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Cryptocurrency & Blockchain · head to head

dYdX vs MakerDAO

dYdX logo

dYdX

Cryptocurrency & Blockchain

Decentralized perpetual trading

From
Free
Rated
-
Full reviewWebsite
MakerDAO logo

MakerDAO

Cryptocurrency & Blockchain

The decentralized stablecoin protocol

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: dYdX newer platform with smaller liquidity pools compared to centralized exchanges; MakerDAO makerDAO is governed as a decentralized autonomous organization by MKR token holder vote rather than a vendor, so it has no company-set price list, subscription tiers or sales contact; access and fees (stability fee, liquidation ratio) are set by on-chain governance vote rather than published as a product price
  • They diverge on capability: dYdX covers Perpetual Contracts, MakerDAO covers DAI Stablecoin.

Where they differ

Only the attributes on which dYdX and MakerDAO actually diverge.

Attributes where dYdX and MakerDAO differ
AttributedYdXMakerDAO
Founded20172015

Identical on both: starting price (Free), pricing model (free), free tier (Yes), platforms (Web), user rating (Not yet rated), category (Cryptocurrency & Blockchain).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in dYdX

  • Perpetual Contracts
  • Cross Margin
  • Portfolio Margin
  • DYDX Token
  • Cosmos SDK

Only in MakerDAO

  • DAI Stablecoin
  • Vaults
  • Stability Fees
  • Liquidations
  • MKR Token
  • DAI
  • Spark Protocol

Both cover

  • Governance
  • Web support

What people use each for

The jobs each tool is most often brought in to do.

dYdX

  • Defi
  • Dexnot MakerDAO
  • Derivativesnot MakerDAO

MakerDAO

  • Defi
  • Stablecoinnot dYdX
  • Lendingnot dYdX

Both are used for defi, on those jobs the choice comes down to price and fit rather than capability.

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

dYdX

  • Newer platform with smaller liquidity pools compared to centralized exchanges
  • Requires cryptocurrency wallet for trading, adding friction for new users
  • Limited fiat on/off ramps compared to centralized alternatives like Coinbase

MakerDAO

  • MakerDAO is governed as a decentralized autonomous organization by MKR token holder vote rather than a vendor, so it has no company-set price list, subscription tiers or sales contact; access and fees (stability fee, liquidation ratio) are set by on-chain governance vote rather than published as a product price

Pricing, plan by plan

dYdX

Free
  • FreeFree
    • Perpetual trading
    • Governance
    • Staking

MakerDAO

Free
  • FreeFree
    • DAI minting
    • Vaults
    • Governance

Which should you pick?

Choose dYdX if

  • You need perpetual contracts.
  • You want to start without paying.
  • You also want cross margin.
dYdX review

Choose MakerDAO if

  • You need dai stablecoin.
  • You want to start without paying.
  • You also want vaults.
MakerDAO review

Questions people ask

Is dYdX or MakerDAO better?
Neither clearly leads. dYdX starts at Free and MakerDAO at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, dYdX or MakerDAO?
dYdX starts at Free and MakerDAO at Free.
Does dYdX or MakerDAO run on more platforms?
Both run on Web, so platform support will not decide this one for you.
Can I use dYdX for free?
Both have a free tier, so you can try either at no cost before committing.
What is dYdX best used for?
dYdX is most often used for defi, dex, derivatives. Of those, dex and derivatives are not what MakerDAO is typically brought in for.
What can dYdX do that MakerDAO cannot?
dYdX covers Perpetual Contracts, Cross Margin, Portfolio Margin, DYDX Token. MakerDAO covers DAI Stablecoin, Vaults, Stability Fees, Liquidations. Both handle Governance, Web support.

Answered from the vendors’ own pages

dYdX: What type of trading does dYdX specialize in?

dYdX is a decentralized platform for perpetuals and margin trading, allowing professional traders to trade crypto derivatives without expiry dates. Built on ZK-rollup technology, it enables trading 143+ cryptocurrencies with leverage up to 50x on selected contracts.

Source
dYdX: How does dYdX maintain decentralization?

dYdX governance is fully community-driven, meaning token holders decide on protocol upgrades, fee structures, and risk parameters. The platform distributes 100% of its trading fees to stakers.

Source
dYdX: What are dYdX's gas fee advantages?

Built on StarkWare's ZK-rollup technology, dYdX enables trading with near-zero gas fees while users maintain full custody of their assets.

Source
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Related pages

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