dYdX to Reimburse Affected Traders in October
dYdX will credit affected traders with liquidation-fee reimbursements in October. The refunds cover the period from when the fee increase went live through 05:00 UTC on October 16th.Refer to the official tweet by ETHDYDX:Earlier this week, we increased liquidation fees to be up to 1% in order to strengthen the Arcus insurance fund. We understand that traders were frustrated that this was not communicated in advance.Going forward, we plan to announce all product changes publicly, in advance.We…ETHDYDX InfodYdX is a leading decentralized exchange (DEX) providing perpetual trading options for over 35 major cryptocurrencies. Founded by Antonio Juliano in 2017, dYdX now ranks among the largest DEXs globally by trading volume and market share.Initially, it offered crypto margin trading, lending, and borrowing services over Ethereum layer-1, but expanded to include cross-margin perpetual trading in 2021. The platform uses Ethereum smart contracts and Starkware's STARK Rollups for its operations.The core offerings of dYdX are perpetual trading, spot trading, and margin trading, with perpetual contracts being its main product. Perpetual contracts allow users to hold buy or sell positions indefinitely, unlike spot trading (instant buying or selling at market price) and traditional futures contracts with a time limit.Furthermore, dYdX has four primary products: perpetual trading, governance, staking, and Nonfungible Tokens (NFTs). The platform's own governance token, DYDX, can be earned through trading activities and staked in liquidity and safety pools for rewards. It is also used for voting on community proposals.