Market makers offer trades through order book & make money on bid-ask spreads (supply-side fees).

NOTE: This dashboard only tracks dYdX V3. dYdX is a non-custodial trading and derivatives protocol built on Ethereum and other adjacent blockchains. dYdX was founded by Antonio Juliano and launched in 2017.

DYDX tokenholders own and govern the protocol. dYdX Trading Inc. currently takes all of the total trading fees paid by traders (revenue). dYdX’s investors include a16z, Polychain, The Spartan Group, etc.