dYdX is the market-leading decentralized exchange for perpetual contracts, based on volume and users. dYdX accrues less revenue for tokenholders than the ascending GMX, despite a sizable difference in trading volume. Additionally, GMX revenue is routed back to tokenholders, while dYdX revenue is directed to a private entity. dYdX can increase the attractiveness of the token, and the security of its new network, by making a number of simple changes, including adjusting the fee schedule, implementing a smoother vesting period, increasing transparency, and creating new demand sinks, among other possibilities.
