dYdX launches perpetual trading on layer 2

dYdX – the popular decentralized trading platform – just opened early access for users to test perpetual cross-margin trading on Layer 2, powered by Starkware.

Introducing our perpetual cross-margin news, now available on Layer 2 powered by @starkwareltd. Read the announcement and subscribe to the alpha to start trading ↓https://t.co/kkLcb1dane pic.twitter.com/vKNI89CzXu

– dYdX (@dydxprotocol) February 24, 2021

In order to scale Challenge derivatives trading, dYdX and Starkware took 7 months to create a Layer 2 protocol specifically designed for perpetual cross-margin trading. Traders with early access to dYdX on Layer 2 will now benefit from trading with zero gas costs and reduced minimum trade sizes. dYdX on Layer 2 was designed from the ground up to provide users with a dramatically improved trading user interface and all of the standard features traders expect when dealing with perpetuals.

Beyond improving user interface and gas cost, dYdX on Layer 2 will also provide the following benefits:

• Money with wings Reduced transaction fees and minimum order sizes
• Instant negotiation
• Types of advanced commands
• Droplet Liquid order books
• Cross Margin Money Bag
• Biceps flexed Up to 25x leverage

dYdX on Layer 2 is currently only available to certain users, liquidity providers, and strategic partners. If you want to join the alpha, you can sign up for more details here. Note that perpetual trading on dYdX is not available to US residents at this time.

Along with this exciting launch, dYdX has undergone a rebranding that includes a complete overhaul of its core landing page and its logos. The protocol now claims the “hedgehog” emoji as its spirit animal, as dYdX often serves users by helping them “cover” their various positions.

Follow dYdX by following them on Twitter.

Business Development and Operations at TrustToken – TUSD. Jack is a startup generalist and DeFi enthusiast. Stay connected with him by following @HHJackSun on Twitter.