DerivaDAO DDX Price $ 0.0552

The Ethereum-based DerivaDAO protocol operates as a DEX. Essentially DerivaDAO operates as the DAO (decentralized autonomous organization) that governs the DerivaDEX platform. The platform is community-governed and has a focus on derivatives. It aims to solve the problems of limited user control experience on centralized exchanges, and the limited liquidity on decentralized exchanges.

DerviaDAO has some notable names amongst its backers, for example, Dragonfly Capital, CMS, and Three Arrows Capital.

DDX is the native platform’s coin that functions as a utility token. It is an ERC-20 token and has a maximum supply of 100 million.

What are DerivaDAO’s key features and how does it work?

The platform consists of three main parts. These are the Insurance Mining App, Governance App, and Cryptocurrency Exchange. Insurance Mining helps to ensure sufficient capital is supplied to the platform’s insurance fund. Users on the dedicated application can stake stablecoins in the insurance fund and receive DDX rewards in return. The platform features high-quality UI/UX. The main purpose of insurance mining on the platform is to prevent ADL (auto de-leveraging).

The Governance App is where, naturally, all things related to the platform’s decision-making take place. This includes voting on any issues related to the exchange and its development. The application features a useful user dashboard where users can view their proposals and all details related to their governance participation.

The DerivaDEX exchange is the flagship product. Its key features include a real-time price feed, competitive fees, and fast trade resolution.

What can DDX be used for?

Holders of DDX can take part in platform governance, as part of DerviaDAO. They can also delegate their voting power to others.

Other use cases of DDX include:

• Reduced trading fees on the platform;
• Platform staking.

Where can you buy DDX?

DDX is available for trading on the following CEXs and DEXs listed here. The most popular platforms with the highest liquidity are CoinBase Pro, CoinEx, and Uniswap V2. The price of DDX will vary depending on the choice of exchange and overall market conditions. For up-to-date and historic data for DDX market price, please view the price charts on this page.