DerivaDAO is a DAO, a mining company and a DEX. A DAO is a decentralized organization with no bosses or board. A DEX is a decentralized exchange, or a way to trade crypto without relying on a middleman to make it happen. The DerivaDAO is both a DEX and a DAO and also runs an L2 sidechain for Ethereum that offers a range of functionality for traders. While centralized exchanges are sometimes easier to use, a decentralized exchange can be more secure. DerivaDAO strives to make their DEX as easy to use as possible without sacrificing the security of a DEX. Created from the beginning as a DAO, the DDX token is used to guide governance of DerivaDAO and determine what functionalities should be added to the network.

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