DYDX Trading Starts September 14 – Deposit Now

We are excited to announce that Kraken is now supporting dYdX (DYDX). 

• Deposits and withdrawals are available starting now. 
• Trading will begin at approximately 15:30 UTC on September 14.

Note: Trading is not available to residents of the USA, Canada, Australia and Japan.

What is dYdX? (DYDX)

dYdX is a decentralized Layer 2 trading platform built on Ethereum offering a range of financial products, including margin trading, derivatives and perpetual contracts. dYdX allows users to borrow, lend and make predictions on the future prices of popular cryptocurrencies.

Rather than maintaining a central order book where buyers and sellers can place orders, dYdX instead uses a collection of liquidity pools, where funds can be accessed by traders seeking to buy or sell cryptocurrencies. 

dYdX’s native cryptocurrency, DYDX, acts as the platform’s governance token and enables participants to vote on protocol upgrades to the network. 

What time will funding and trading start?

• Funding: Already available – you can deposit DYDX now! 

• Trading: Starts September 14 at approximately 15:30 UTC (Kraken will enable order entry and execution at this time)

• Updates will be posted on the status page near launch time

Trading pairs for DYDX

• DYDX/USD
• DYDX/EUR

How to deposit DYDX

1. Navigate to “Funding” > Select the asset. You can find the asset either by ticking “Show all assets” or by searching (e.g for “DYDX”).
2. Click “Deposit” next to the asset and follow the on-screen instructions.

Confirmations required before deposits credit

• 20 (about 5 minutes)

Trading minimums

Fees and funding minimums 

Which services will be available for DYDX?

Available

Not (yet) available

Will Kraken list more assets?

Yes! But our policy is not to reveal any details until shortly before launch – not even which assets we are considering. All of Kraken’s listed tokens are available on our website, and all future tokens will be announced on Kraken’s blog and social media profiles. Our client engagement specialists cannot answer any questions about which assets we may be listing in the future. 

Trade with caution

Limit orders are recommended when trading starts since the markets may be illiquid initially. Be extremely careful with market orders and orders that trigger market orders (e.g. stop loss).

Invest with caution

Listing an asset or token for trade is not a recommendation to buy, sell, or participate in the associated network. Do your own research and invest at your own risk.

Source: https://blog.kraken.com/post/10900/dydx-trading-starts-september-14-deposit-now/