The dYdX decentralized derivatives exchange has launched perpetual cryptocurrency contracts using StarkWare’s second tier solution to reduce fees and increase trading speed.
Perpetual cryptocurrency cross-margin contracts have been launched using the second-tier solution for the Ethereum network StarkWare for all platform traders, according to a statement on the dYdX blog.
“To scale trading significantly, dYdX and StarkWare have created a Layer 2 protocol for perpetual contracts based on the StarkWare StarkEx scaling engine and dYdX Perpetual smart contracts. Traders can now trade with zero gas costs, lower trading fees and reduced minimum trade sizes. ”
Previously, perpetual contracts using StarkWare were available in a closed alpha version of the limited deposit solution that launched in February. dYdX states:
“With the move to our Layer 2 protocol, we have created a completely new product and trading system from scratch for perpetual cross-margin contracts. The product features a new and improved user interface, instant trading and all the advanced features that traders have come to expect from perpetual trading. ”
The dYdX decentralized exchange announced a partnership with StarkWire last August. Then the developers of the exchange announced that support for the second-level scaling technology StarkEx will be added to the platform.
StarkWare uses ZK Rollups technology, which, like Optimism’s Optimistic Rollups, is being developed to address some of Ethereum’s scaling problems.
Both technologies have their pros and cons. dYdX said it chose ZK Rollups because the StarkWare solution was already in production when the exchange first partnered with the startup.
DeversiFi decentralized exchange also uses the StarkWare solution. The DeFi Synthetix app uses Optimism roll-ups. Uniswap is also considering integrating with the second-tier Optimism solution.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
