DYDX is focused on decentralizing finance for security and transparency. In addition, the work runs on open source software. DYdX can be considered the most powerful open source trading platform for cryptoassets so far.
Contents:
- Ethereum platform capabilities
- The main advantages of the blockchain service
- How is the dapp project developing?
Ethereum platform capabilities
Platform users get access to the following operations:
- The first - to carry out transactions. You can open credit positions with up to 4x leverage. In addition, trading on margin with borrowed capital is available.
- Secondly, to borrow funds. Transfer any supported asset directly to your wallet. Use existing crypto holdings as collateral.
- Thirdly, to lend. Invest to earn interest continuously.
- Fourthly, to manage. Over time, you can view and track portfolio performance.
DYDX solves many problems by giving everyone access to high quality financial instruments right from their wallet to blockchain. Developers do not provide information about the project through a white paper document. There is also no roadmap, but the site has a "Blog" section, which publishes various news. There are also no free giveaways and promotions.
The main advantages of the blockchain service
The main task of the platform - to create a more open, transparent and secure financial system, where everyone has access to high-quality financial instruments. In addition, DYDX combines the security and transparency of a decentralized exchange with speed and convenience. These benefits are in addition to all features, already offered in the existing project - borrowing, lending and margin trading. The fairness of the project is confirmed by the action of the blockchain, but nothing is said about the presence of an audit of a smart contract.
Advantages of using the site:
| Reliability | Trade risk-free. |
| Liquidity | The platform provides credit liquidity across multiple exchanges. |
| Power | Trade on margin with up to 4x leverage. Support your positions with special collateral. |
| Availability | Registration is not required to start working on the portal. Start trading right now from anywhere in the world. |
With dYdX, users can trade, borrow and lend any supported assets.
There is no need to take DAI under one protocol and sell it on other sites or markets. Because, all this can be done in the convenient dYdX interface.
How is the dapp project developing?
The developers strive to regularly update the platform in order to provide their users with the best trading experience. To this end, further work is being carried out on the following systems:
- isolated margin (including limit orders);
- additional markets (for example, WBTC);
- other types of orders (for example, Stop loss).
In addition, the platform has fast trade execution. For example, deals are matched, and the balance and order book are instantly updated. Currently, the portal does not collect fees from manufacturers and buyers. Moreover, there are no gas costs. Subscribe to twitter to stay up to date with all news. In addition, there are already more than 8000 participants here. Also, there is a telegram channel with 1200 subscribers.