About DerivaDAO (DDX)
DerivaDAO is the decentralized autonomous organization (DAO) that governs DerivaDEX, a Coinbase-backed decentralized exchange (DEX) for derivative contracts built on Ethereum. It features an open order book and on-chain settlement, and leverages off-chain price feeds, matching engines, and liquidation operators to enable fast and efficient transactions of synthetic assets.
The DDX token is an ERC-20 governance and utility token with various use cases. DDX allows token holders to participate in the governance of DerivaDAO from day one with their token holdings (or delegated voting power) to determine the evolution of the exchange. DDX can also be used to pay reduced trading fees on the platform, and the token is staked (or bonded) by operators who run price feeds or matching engines. Lastly, DDX holders can stake the token to receive increased referral payouts from traders they have referred to the platform.
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