Anchorage Digital announced today that it would be able to take custody of the dYdX governance token on customers’ behalf as soon as the token launches.
Anchorage already supports 57 digital assets, including stablecoins such as USDC, market cap leaders such as Bitcoin and Ethereum, and decentralized finance governance tokens such as Compound.
dYdX falls into the third category, one of the many Ethereum-based protocols for lending, borrowing, and/or trading without financial intermediaries. dYdX the company built dYdX the exchange to allow for customers to make high-leverage trades; traders can get access to up to 25 times the amount of collateral they put down. It’s the third-largest platform for derivatives trading on Ethereum, per data collected by DeFi Pulse, with more than $300 million in assets on the platform.
