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Keplr’s integration with dYdX will allow Keplr users to interact directly with dYdX’s decentralized trading platform while retaining full control of their assets.
Key Notes
dYdX and Keplr have joined forces to improve user access on the dYdX Chain.Keplr’s 1M+ users will be able to trade across over 130 markets on dYdX in a non-custodial way.dYdX is also preparing for the Unlimited update later this fall.dYdX has integrated with Keplr Wallet, enhancing user access to its decentralized trading platform. This development aims to simplify user onboarding and broaden participation in the dYdX ecosystem.
Enhancing User Access
The new partnership allows Keplr’s over 1 million users to connect their wallets and trade across more than 130 markets on dYdX in just three clicks. Keplr Wallet is a leading multi-chain wallet with support for over 40 Inter-Blockchain Communication (IBC) chains and 8 Ethereum Virtual Machine (EVM) chains. It is well-regarded for its user-friendly interface and its role within the Cosmos ecosystem.
With the new integration, Keplr users will be able to interact directly with dYdX’s decentralized trading platform while retaining full control of their assets. Users holding USDC USDC $1.00 24h volatility: 0.1% Market cap: $35.19 B Vol. 24h: $6.79 B in their Keplr Wallet can deposit directly onto the dYdX Chain, while those without USDC can bridge their assets using the Cross-Chain Transfer Protocol (CCTP). This seamless connection is expected to improve liquidity and user engagement on the dYdX platform.
Charles d’Haussy, CEO of the dYdX Foundation, emphasized the strategic importance of this integration. He noted:
“We’re excited about working with Keplr because their wallet enhances the accessibility of the Cosmos ecosystem. The ease of use and robust security Keplr offers will give dYdX users a streamlined and secure trading experience.”
Josh Lee, CEO of Keplr Wallet, also shared his enthusiasm:
“Integrating with dYdX Chain adds significant value for our users. The decentralized order book and low fees on dYdX complement Keplr’s multi-chain capabilities, allowing our users to trade efficiently within their preferred Web3 environment.”
This partnership not only simplifies the process but also supports the broader adoption of decentralized trading solutions, reflecting a growing trend towards seamless Web3 interactions.
dYdX’s Upcoming Unlimited Upgrade
The integration with Keplr Wallet comes ahead of the launch of dYdX Unlimited, a major upgrade set for release this fall. dYdX Unlimited will introduce a broad range of perpetual markets and the MegaVault. The MegaVault will allow users to deposit USDC and automatically distribute liquidity across various markets, ensuring that even newly listed markets have sufficient liquidity from the start.
Users who deposit into the MegaVault will earn a share of the revenue generated by the platform, including trading fees and other incentives. This system is designed to provide a high annual percentage rate (APR) for depositors without requiring them to actively manage their liquidity across different markets.
Looking ahead, the integration of Keplr Wallet and the introduction of new features like the MegaVault are set to position dYdX as a leading platform in the decentralized finance (DeFi) space.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
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Leon is a seasoned blockchain writer and reporter, dedicated to uncovering the stories behind decentralized technologies. He excels in providing in-depth analysis and thought leadership in blockchain media. His reporting sparks meaningful conversations and fosters a deeper understanding of the transformative potential of blockchain.
