dYdX is a decentralized exchange built on the Ethereum network delivering key financial instruments to users such as perpetuals, margin and spot trading, as well as lending and borrowing. dYdX equips traders with off-chain order books with on-chain settlement and enables them to short-sell tokens, increase exposure by longing with leverage, or earn interest on deposited tokens to move quickly. dYdX leverages StarkWare's Layer 2 to eliminate the need to trust a centralized exchange while trading, and thus combines the security and transparency of a decentralized exchange, with the speed and usability of a centralized exchange.