Accessing DeFi has never been easier

If you’re in the world of decentralized finance, you’re probably familiar with the name: dYdX. This is the leading decentralized exchange that was founded back in 2017. Back then, the term DeFi (which stands for decentralized finance) hadn’t even reached the mainstream.

The leading DEX (which stands for decentralized exchange or stock exchange) enables you to:

• buying and selling spot cryptocurrencies,
• trading derivatives such as perpetual contracts and associated leverage for your capital,
• Credit and Lending Services.

And all of this without a middle man: After all, the decentralized exchange is not called decentralized for nothing. Because dYdX runs through smart contracts that have already been put through their paces. This completely eliminates trust in a central exchange with central weaknesses.

However, dYdX noticed another problem, namely that it is difficult to inject capital into the crypto ecosystem. If you want to trade on a decentralized exchange, you need to convert your fiat money into cryptocurrencies. In the past, this was only possible through large, centralized exchanges.

After exchanging fiat for crypto via a central exchange, you had to send your crypto to a wallet, and from there to a decentralized exchange. Only now are you ready to act. A lengthy process that fortunately has an end.

Click here for the official dYdX website

Convert fiat to crypto made easy

One of dYdX’s tasks is to democratize access to trade worldwide. We are therefore all the more pleased to have a partnership with banxa to be allowed to announce. The financial technology platform will act as an on- and off-ramp solution for cryptocurrencies.

This makes it easier to exchange fiat currencies for cryptocurrencies and optimizes the trading process on dYdX. As the leading stablecoin, USDC will play an important role in the decentralized financial ecosystem.

We are excited to work with dYdX and provide the critical on/off ramp infrastructure needed to support the shift in user demand from centralized exchanges to decentralized exchanges. As one of the most established decentralized exchanges, dYdX is excellently positioned to democratize access to trading and accelerate the mass adoption of decentralized finance.

Josh D’Ambrosio, Banxa Sales Manager.

Banxa is not a bank, Banxa is a financial technology platform powering leading Web3 projects. That’s why Banxa provides the infrastructure so that USDC can be purchased with a variety of payment methods.

These methods include credit card, bank transfer and other convenient local payment options. This gives you easy access to USDC, which allows you to trade on the decentralized exchange.

Banxa has established a top-notch product in the centralized world and is now ready to offer the same product in the decentralized world. Together with dYdX, they want to take crypto acceptance to new heights.

To celebrate the partnership between Banxya and dYdX, they are offering a limited introductory offer with a zero margin fee.

Deposit Fiat and start trading immediately

dYdX v4: Standalone Cosmos blockchain planned

dYdX is on a mission: Develop open, secure and powerful financial products. That’s why you combine the security and transparency of a decentralized exchange with the user-friendliness of a central exchange.

And that’s why dYdX is currently in the process of migrating from Ethereum to the Cosmos blockchain. With the help of Cosmos, setting up a self-contained, interoperable blockchain is child’s play.

So the decentralized exchange is launching its own fully sovereign blockchain called dYdX v4. So you want to be completely independent of external systems or other blockchains.

In contrast to many other decentralized exchanges, dYdX is not based on an automated market maker (AMM), but on an order book model, as is also used in central exchanges. Trading on dYdX corresponds to the experience known from central exchanges, but with many advantages.

As a result, dYdX offers a unique combination of decentralization, scalability and adaptability and further expands its leading market position through a fully decentralized off-chain orderbook and matching engine.

With the help of Cosmos, you can achieve an extremely high throughput for the order book with simultaneous decentralization. As if that weren’t enough, trading even takes place without transaction fees.

$DYDX: The governance token of the decentralized exchange

The new blockchain will continue to be powered by the token of the same name: $DYDX. This was first announced in August 2021 and has since acted as the protocol’s governance token. Token holders can participate in important government decisions.

These important decisions include, for example, the allocation of funds from the common fund, the setting of risk parameters and the listing of new tokens on the platform.

But that’s not all, because on top of that, native token holders get a discount on trading fees. The community should control every aspect of the protocol and can thus create the best possible product experience.

Via dYdX, users can trade leveraged cryptocurrencies without having to trust a centralized authority. The aim is to develop open source code that creates a first-class product and trading experience. dYdX wants to become the largest decentralized exchange in the crypto world.

Click here for the free introductory offer

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