dYdX dApp on Ethereum
All about dYdX and how to connect to it with your Exodus Browser Extension.
In this article:
- What is dYdX?
- Do I need Ethereum to use dYdX?
- Which territories are restricted from using dYdX?
- How do I connect my wallet to dYdX?
- How do I approve a transaction on dYdX?
- How do I disconnect my wallet from dYdX?
What is dYdX?
dYdX is a DEX that enables margin trading and perpetual trading.
Margin trading on dYdX allows users to take up to 20x leverage on their trades. And because dYdX is open source, anyone can see the conditions that can liquidate their position. This is much more transparent than doing margin trading through a centralized exchange where users don't know all the liquidation conditions.
Perpetual trading is a derivative financial contract that has no expiration date, meaning it can be held or traded indefinitely.
The dYdX protocol is completely open source and its code has been audited and secured. However, before interacting with it, be sure to read more on DeFi hacks and bugs as well as intrinsic protocol risk in our guide: Safety and security for DeFi and dApps.
For more information on dYdX and how to use it, you can also go through their documentation .
Do I need Ethereum to use dYdX?
Any transaction within dYdX will incur network transaction fees, also known as gas fees. Ethereum gas fees can vary depending on network traffic.
You can use the Ethereum gas tracker on Etherscan to track Ethereum gas fees at any given time.
Which territories are restricted from using dYdX?
Per their terms and conditions, these territories are restricted from using dYdX:
|United States of America|
How do I connect my wallet to dYdX?
To connect successfully, please ensure that you have enabled Prioritize Exodus and that Exodus Browser Extension is the only Ethereum browser extension installed. Questions? See all the details here.
- Go to dYdX and click Trade.
- Click Connect wallet.
- Click Get started.
- Select MetaMask.
- On the connection approval screen, click Connect.
How do I approve a transaction on dYdX?
- When making a trade on dYdX, your browser extension wallet will pop up and prompt you to approve the transaction.
- Click Approve.
How do I disconnect my wallet from dYdX?
- Open Exodus Browser Extension and click the Menu icon.
- Click Connections.
- Next to dYdX, click the delete icon.