The DYDX token is central to the dYdX Chain, playing a critical role in decentralised financial (DeFi) instruments and derivatives.

It transitioned from Ethereum to the dYdX Chain on October 26, 2023, at 17:00, marking a significant evolution.

This move introduced enhanced functionalities and broader utility for the token within the DeFi ecosystem.

The switch from Ethereum (CRYPTO:ETH) to Cosmos has notably expanded its roles, making it a key player in the dYdX Chain's operations and governance.