dYdX Has Launched Layer 2 Perpetual Contracts

2021-4-7 00:32

dYdX has launched its Layer 2 perpetual swap platform, according to an announcement from the project today.

Layer 2 Service Is Now Live

dYdX launched its closed alpha in February and reported widespread adoption: “We had 110,000 users sign up for the waitlist, and users traded $90,000,000 in volume across over 25,000 trades,” dYdx wrote in its most recent announcement,

Now, the Layer 2 perpetual contracts swap has exited its closed alpha testing stage and is live on StarkEx. As a Layer 2 service, dYdX touts low fees and instantaneous trades.

dYdX also enables users of conventional browser wallets such as MetaMask to start trading without depositing tokens to a bridge beforehand, and without connecting to an alternate network.

Users will have access to fast withdrawals that go directly to their Ethereum mainnet wallets. To cut costs, the platform has users pay liquidity fees instead of Ethereum’s native gas fees.

The dYdX trading platform settles and margins all perpetual contracts using USDC. Deposits must also be USDC. However, users will soon be able to deposit other assets thanks to integration with the 0x API. Deposits and withdrawals are subject to Ethereum gas fees.

dYdX is powered by StarkEx, a Layer 2 scaling solution built by StarkWare Industries to help Ethereum dApps such as cryptocurrency exchanges and gaming platforms improve their user experiences (UX) with only minimal changes to their code.

StarkEx utilizes ZK-Rollups, which bundles hundreds of transfers in each transaction. It also uses zero-knowledge proofs to reduce the usage of costly Ethereum resources such as mining power.

The Need for Layer 2 Solutions

Ethereum’s Layer 1 decentralized exchanges struggle with prohibitively high gas fees. This has stunted the growth of decentralized exchanges and made them impractical for small trades.

Ethereum 2.0, which is gradually being rolled out, will reduce fees for Layer 1 exchanges and apps. However, Layer 2 solutions will make DEXes more affordable for users in the meantime by offloading some of the transaction load that Ethereum currently experiences.

Disclaimer: At the time of writing, this author held Bitcoin, Ethereum, Litecoin, Tezos, ADA, and AAVE.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

UniLayer (LAYER) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.1105
Капитализация $0 Rank 99999
Цена в час новости $ 0.1823 (-100%)

perpetual contracts layer launched dydx

Источник: cryptobriefing.com

perpetual contracts → Результатов: 118


Фото:

Huobi Launches Bitcoin Perpetual Swaps with 125x Leverage

Singapore-based Huobi is the latest crypto exchange to launch perpetual swaps. The new product is live on Huobi DM, the company’s derivative trading platform. New Product Allows Traders to Benefit from Market Volatility BitMex-like future contracts with no expiry times, commonly referred to as perpetual swaps, are becoming increasingly popular among crypto exchange firms.

2020-3-31 19:00


Bybit Launches USDT Perpetual Contracts on its Crypto Derivative Program

Bybit, a crypto derivatives exchange based in Singapore and registered in the BVI, has announced the launch of Tether (USDT) perpetual contracts in its derivative products. According to a press release sent to ZyCrypto, the USDT contract will utilize USDT as both the settlement currency and also the source of the quote. As a result, […]

2020-3-26 21:36


Фото:

BitMEX may be about to add KYC, and that’s bearish for Bitcoin: traders explain why

BitMEX, the leading Bitcoin and crypto-asset derivatives exchange, has long played a central role in these nascent markets. The firm’s Bitcoin (XBT) perpetual swap — the infamous vehicle that allows traders to 100x leverage their capital in exchange for mind-blowing profits or a brutal margin call — just months ago passed $2 trillion in contracts […] The post BitMEX may be about to add KYC, and that’s bearish for Bitcoin: traders explain why appeared first on CryptoSlate.

2020-3-23 11:20


Фото:

Binance Futures Overtakes BitMEX Perpetual Futures Trading Volume

Binance Futures, the cryptocurrency futures contracts platform from the stables of the innovative Binance crypto exchange, has continued to gain traction since its launch in July 2019, thanks to its plethora of features including network stability, futures insurance funds and others which has given it a significant edge over competitors like BitMEX.

2020-3-17 16:00


Ex-Wall Street Team Builds ExOne Platform To Battle The ‘Fragmented’ Crypto Market

On Wednesday this week, XRP perpetual contracts on BitMEX experienced a flash crash causing an outrage from users, some complaining that their whole account was wiped out. For a relatively big exchange like BitMEX flash crashes should be rare but happens all the time due to liquidity issues as the crypto market continues to mature. […]

2020-2-14 19:26


BitMEX introduces a new perpetual swap for XRP; here’s why this is important

BitMEX is introducing a new perpetual swap contract for XRP. Meanwhile, the price of this cryptocurrency could be about to retrace based on multiple technical indicators. XRP swap contracts on BitMEX In a recent tweet, one of the largest cryptocurrency derivatives exchanges in the world, BitMEX, announced that it is set to roll out a […] The post BitMEX introduces a new perpetual swap for XRP; here’s why this is important appeared first on CryptoSlate.

2020-2-4 15:00


Фото:

Monero (XMR/USDT) Perpetual Contracts Arrive on Binance Futures

Cryptocurrency exchange Binance’s futures trading platform – Binance Futures – on February 2, 2020, announced the launch of XMR/USDT Perpetual Contracts with leverage up to 75x. Monero (XMR) Futures Arrive on Binance Futures On February 2, 2020, Malta-based cryptocurrency exchange’s futures trading arm – Binance Futures – announced that it will launch XMR/USDT Perpetual ContractsRead MoreRead More.

2020-2-3 10:00


Фото:

Binance Futures Launches Cardano (ADA) Perpetual Contracts with 75x Leverage

In a blog post published on January 30, 2020, cryptocurrency trading platform Binance announced that it will launch ADA/USDT perpetual contract with up to 75x leverage. Cardano (ADA) Contracts Arrive at Binance Since its launch in September 2019, Malta-based exchange’s futures trading platform – Binance Futures – has added a slew of digital asset-based contractRead MoreRead More.

2020-1-31 14:00


дальше еще 69 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

ZKasino initiates ETH refund process amid mounting scam allegations

**Meta Description:** ZKasino announces 72-hour refund process for investors amid allegations of a $33 million "rug pull," sparking skepticism and concerns about the authenticity of the claim. The post ZKasino initiates ETH refund process amid mounting scam allegations appeared first on Crypto Briefing.

How Client Feedback Helped Shape PrimeXBT’s New Revamp

The most successful companies listen closely to their clients. They aim to deeply understand their unique set of needs and how best to serve them. As an award-winning Cryptocurrency broker, PrimeXBT has gone live with fresh, new branding, alongside a series of product improvements.