Andreessen Horowitz-backed DeFi Exchange, dYdX, Rolls Out BTC-USDC Perpetual Contracts

2020-5-14 21:46

dYdX, one of the leading Ethereum based DeFi's, has released its BTC perpetual contracts for trading to the public. This initiative was initially under a private alpha testing phase but will now be fully integrated with Ethereum's DEX ecosystem. However, the perpetual contracts are not available for U.S investors.

According to an earlier publication in April, the contract is the first of its kind within the dYdX decentralized exchange. Following this launch, the private alpha appears to have been successful hence the bold step to introduce Bitcoin's liquidity in the form of a perpetual contract. Antonio Juliano, the founder of dYdX, has since told Coindesk in a private message that this is a big milestone in the world of crypto derivatives,

“For the first time, users can trade the most popular financial product in crypto – BTC perpetual contracts – on a decentralized exchange,”

dYdX BTC Perpetual Contracts

Complex financial products seem to spill over for replication in the upcoming crypto market. Today, crypto exchanges have evolved from simple trading to products like spots and futures whose underlying are digital currencies. Perpetual swaps in the dYdX non-custodial exchange will further diversify investors' options in the crypto derivatives market.

Basically, the assets have no expiry dates like normal future contracts hence the whole idea of ‘perpetuity'. Margin differences in the dYdX BTC perpetual contracts will be settled in USDC, a USD backed stablecoin.

However, the DEX plans on adding more pairs in the near future. Notably, dYdX offers up to 10x leverage on the perpetual contracts as it looks to hit a$10 million daily traded volume by the end of 2020. A post by the firm has echoed that the private alpha already recorded impressive numbers,

“To date, almost $5M has been traded since going into Alpha, with $3M of that coming since Sunday. We are excited to launch our Perpetual Markets to the public, and gather additional feedback from our community.”

With such progress, dYdX could gradually become a threat to big boys like BitMEX and Binance who have long dominated this market. The platform's decentralized advantage means that individuals get to execute and audit on-chain as opposed to centralized exchanges where such confirmations are not an option. dYdX also said that it will be scaling the scope of its perpetual market in the coming months to feature other prominent cryptocurrencies as well.

Bitcoin (BTC) Live Price 1 BTC/USD =$9,384.4677 change ~ 6.39%

Coin Market Cap

$172.46 Billion

24 Hour Volume

$10.15 Billion

24 Hour VWAP

$9.02 K

24 Hour Change

$599.9778 var single_widget_subscription = single_widget_subscription || []; single_widget_subscription.push("5~CCCAGG~BTC~USD");

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Defi (DEFI) на Currencies.ru

$ 0.0182135 (-17.70%)
Объем 24H $1.165k
Изменеия 24h: 74.29 %, 7d: -97.27 %
Cегодня L: $0.0182135 - H: $0.0182135
Капитализация $0 Rank 3233
Цена в час новости $ 0.545 (-96.66%)

perpetual contracts dydx ethereum defi alpha testing

Источник: bitcoinexchangeguide.com

perpetual contracts → Результатов: 72


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 23 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bonfida DEX Restricts Access to US-based Users

Serum-based, Bonfida decentralized digital asset exchange (DEX) is the latest decentralized finance (DeFi) project to put the US in its restrictive region list. According to Bonfida's terms of use, the Bonfida DEX is not available to residents of the USA.

1Inch Network Restricts Access to US Users, imToken Blocks Chinese Users from using its DEX and DApps

Decentralized platforms might not be as decentralized as they claim to be. This can be seen with the decentralized exchange aggregator 1inch, which has started geofencing US IP addresses. “It looks like you are trying to use the linch dApp from a restricted territory or are using a VPN that shows your location as a […] The post 1Inch Network Restricts Access to US Users, imToken Blocks Chinese Users from using its DEX and DApps first appeared on BitcoinExchangeGuide.

1Inch Moves to Arbitrum For Faster Throughput And Lower Gas Fees  

Ethereum multi-chain solution, Arbitrum One is seeing major adoption by the day. The latest protocol looking to tap into lower fees and faster transactions is 1Inch Network. 1Inch Moves To Arbitrum According to a Wednesday tweet, popular decentralized cryptocurrency exchange (DEX) aggregator 1Inch Network announced support to Ethereum layer-two scaling solution Arbitrum.

Jack Dorsey is Building a KYC-Complaint DEX for Bitcoin with a Decentralized Identity Solution

Twitter CEO and co-founder Jack Dorsey have shared more details about his project that revolves around Bitcoin. Last month, Dorsey had said that decentralized finance (DeFi) on Bitcoin is his new goal — “an open developer platform with the sole goal of making it easy to create non-custodial, permissionless, and decentralized financial services” and that […] The post Jack Dorsey is Building a KYC-Complaint DEX for Bitcoin with a Decentralized Identity Solution first appeared on BitcoinExchangeGuide.