dYdX’s Layer 2 perpetuals go live on Ethereum scaling solution StarkWare

Apr 6, 2021 | The Block News | 0 comments

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Crypto perpetual contracts offered by decentralized derivatives exchange dYdX have gone live on StarkWare, the Ethereum layer-2 scaling solution.

The full launch means there is no more closed alpha of the scaling solution, which was launched in February with limited deposits. 

“With the transition to our Layer 2 protocol, we’ve built an entirely new product and trading system for cross-margined Perpetuals from the ground up,” said dYdX. “The product features a new and improved UI, truly instant trading, and all the advanced features traders expect while trading perpetuals.”

Traders can benefit from “zero gas costs, lower trading fees, and reduced minimum trade sizes,” dYdX explained.

dYdX first partnered with StarkWare last August to bring Ethereum scaling to its offerings; StarkWare utilizes ZK Rollups scaling technology for its solution, which, like Optimism’s Optimistic Rollups, are being developed in a bid to solve some of the scaling challenges facing the Ethereum

Both technologies have their pros and cons. dYdX said it chose ZK-Rollups because StarkWare’s solution was already in production when it first partnered with the startup. Decentralized exchange DeversiFi also uses StarkWare’s solution.

Synthetix, on the other hand, uses Optimism’s solution, and Uniswap is set to utilize Optimism in the coming months.

© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

News Source from TheBlockCrypto.com

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