Representation Learning over graph structured data has received significant attention recently due to its ubiquitous applicability. However, most advancements have been made in static graph settings while efforts for jointly learning dynamic of the graph and dynamic on the graph are still in an infant stage. Two fundamental questions arise in learning over dynamic graphs: (i) How to elegantly model dynamical processes over graphs? (ii) How to leverage such a model to effectively encode evolving graph information into low-dimensional representations? We present DyRep - a novel modeling framework for dynamic graphs that posits representation learning as a latent mediation process bridging two observed processes namely -- dynamics of the network (realized as topological evolution) and dynamics on the network (realized as activities between nodes). Concretely, we propose a two-time scale deep temporal point process model that captures the interleaved dynamics of the observed processes. This model is further parameterized by a temporal-attentive representation network that encodes temporally evolving structural information into node representations which in turn drives the nonlinear evolution of the observed graph dynamics. Our unified framework is trained using an efficient unsupervised procedure and has capability to generalize over unseen nodes. We demonstrate that DyRep outperforms state-of-the-art baselines for dynamic link prediction and time prediction tasks and present extensive qualitative insights into our framework.