This week, the dYdX crypto asset will be listed on Indodax. Open deposit will start on November 3, 2021 at 14:00 WIB and open trading will start on November 4, 2021 also at 14:00 WIB.
Want to know? Take it easy, because before you buy something, it is important for you to find the background of a project so that you can have the most suitable crypto asset. And this time, Indodax Academy will share and you can read this article to know more!
What is dYdX?
DYDX is a governance token that enables its community to truly govern the dYdX Layer 2 Protocol. By enabling shared protocol control, DYDX enables traders, liquidity providers and their partners to work collectively towards an enhanced Protocol.
They enable a robust ecosystem around governance, rewards, and staking — each designed to drive dYdX’s future growth and decentralization, resulting in a better user experience.
According to its official website, the dYdX exchange has established itself as a big thing in the crypto world as the platform boasts around 64,000 unique traders, a total volume of $11 billion across perpetuals and margins, and $250 billion in flash transactions from its liquidity pool.
In addition, the platform is also working with StarkWare which uses StarkEx, a Layer 2 scalability engine that aims to increase non-custodial trading. In simple words, the impact will be similar to the upcoming Eth 2.0 upgrade, as gas costs will be zero, minimum trade sizes will be reduced, and trading costs will be lower.
dYdX’s goal is to provide secure trading services at low gas costs and fees. To achieve this, the platform is now moving towards Layer 2 with the help of StarkWare to increase its trade settlement capacity.
Crypto Asset dYdX
There are a total of 1,000,000,000 DYDX tokens to be distributed over a five year period and work on top of the ERC-20 system.
How to Buy at Indodax
For those of you who want to buy dYdX crypto assets, you can buy them on Indodax starting November 5, 2021 at 14:00 WIB. Here’s how to buy it:
- For those of you who are not yet a member, you can click the link here
- After that, make a deposit. For those of you who are confused about how to deposit, click on this link
- After your deposit and balance come in, you can return to the market
- Look for dYdX in the Rupiah market then click
- After logging in, you just have to buy by filling in the balance and at what price you want to buy dYdX. You can also buy it instantly or directly at the current price
- After that, you need to patiently wait for the price to increase for some time
- After the price increases, you can sell it at a higher price with the instant method
- If you sell with the limit method, you can place an order after buying. Make sure you enter a higher number when selling.
So how come, have you been interested in buying this crypto asset? Or maybe you’ve played on the platform to try DEX? Let me know in the comments column yes! See you in the next article!