Introducing our new cross-margined Perpetuals, now live on Layer 2 powered by @starkwareltd. Read the announcement, and sign up for the alpha to start trading ↓https://t.co/kkLcb1dane pic.twitter.com/vKNI89CzXu
— dYdX (@dydxprotocol) February 24, 2021
In order to scale DeFi derivative trading, the dYdX & Starkware took 7 months to create a layer 2 protocol built specifically for cross-margined perpetual trading. Traders with early access to dYdX on layer 2 will now enjoy trading with 0 gas costs and reduced minimum trade sizes. dYdX on layer 2 was built from the ground up to provide users with a vastly improved trading UI and all the standard features traders expect when dealing with perpetuals.
Beyond the UI and gas cost improvements, dYdX on layer 2 will also offer the following advantages:
- Money with wings Low trade fees & minimum order sizes
- Instant trading
- Gear Advanced order types
- Droplet Liquid order books
- Money bag Cross Margin
- Flexed biceps Up to 25× leverage
dYdX on layer 2 is currently only available for select users, liquidity providers, and strategic partners. If you’re interested in joining the alpha, you can sign up for more details here. Note that perpetuals trading on dYdX is not available for US Residents at this time.
Along with this exciting launch, dYdX has undergone a sleek rebrand which includes a complete overhaul of its main landing page and its logos. The protocol now claims the “hedgehog” emoji as its spirit animal since dYdX often serves users being helping them “hedge” their different positions.
Keep up with dYdX by following them on Twitter.