dYdX on Layer 2 is live, learn how to trade on dYdX using imToken
New version of dYdX has just been released, which is a Layer 2 protocol for cross-margined perpetuals, based on StarkWare’s StarkEx scalability engine and dYdX’s Perpetual smart contracts.
Traders can expect significantly lower gas costs, and in turn, much lower trading fees and minimum trade sizes.
The benefits we like most:
- Zero gas cost
- Instant settlement
- Cross-margin perpetuals
- Reduced minimum trade sizes
- Significantly lower trading fees
- Higher Leverage & Lower Liquidation Penalties
Learn more about it on dYdX’s blog below:
Now, let’s try the new version of dYdX on imToken.
- Open imToken then go to 「Browser」and search 「dYdX」
2. Connect the imToken wallet and sign the sigure for generate Stark private key
3. You can use UserName and Email to create your account , then sign the sigure please.
4. Click「Register」to enable the layer 2. It registers your account in the StarkEx contract and needs to pay a gas fee. Sign the signature to connect your imToken wallet, meantime.
5. Enable the USDC for authorization on the chain, after that deposit the amount of USDC as a margin for a contract transaction.
6.Now you can choose the trading pair for 「Market Order」 or 「Limit Order」to trade.