What is dYdX?
dYdX is an open-source application specific blockchain software that can power a decentralized perpetuals exchange. This standalone blockchain software is open-sourced and is based on the Cosmos SDK and CometBFT proof-of-stake consensus protocol. dYdX is fully decentralized end-to-end, including its consensus mechanism, order-book, matching engine and front end.
What is the difference between trading on Fulcrom and dYdX in Crypto.com Onchain?
While both Fulcrom and dYdX are perpetuals DEXes that allow users to trade with leverage, there are some differences between the two:
Protocol | Fulcrom | dYdX |
Blockchain | Cronos chain | dYdX chain |
Deposit Requirement | None | Funds must be deposited into your Perpetuals account before trading |
Trade Pairs | Fewer trading pairs | More trading pairs |
Position Mode | Hedge | One-way |
How do I fund my Perpetuals account on dYdX?
Follow these steps to fund your account:
Tap Deposit
Select the token you wish to deposit
Input the amount you wish to deposit
Tap Deposit
Review the transaction details and tap Confirm
You can check the status of the transaction by going to My Trades > dYdX.
How do I trade on dYdX?
Follow these steps to trade on dYdX:
Deposit funds into your Perpetuals account
Select your trading pair
Select the direction you wish to trade
Input your trade amount
Select your leverage
Tap Trade Now
Your order will be submitted. Once it is filled, an in-app notification will appear on your device.
You can check on your position by going to My Trades.
How are my perpetuals trades executed?
If dYdX is selected when trading Perpetuals on Crypto.com Onchain, you are directly interacting with dYdX, and your trades are executed by the platform. For more details, please visit the dYdX help center.
What is the difference between Account Balance and Available to Trade?
Available to Trade is the amount of available funds in your dYdX Perpetuals account, and Account Balance is a sum of the available funds and the value of your open positions.
Why is my account balance different from the amount I deposited?
Your account balance may differ from your deposit amount as a small portion is reserved for network fees.
How is the liquidation price calculated?
Liquidations are directly handled by dYdX. For more details, please visit the dYdX help center.
Why is the leverage of my position different from the amount I entered?
When placing an order, the leverage may be adjusted for the order size to meet the requirements from dYdX. If the order size is rounded down, the leverage will be slightly lower. If the order size is rounded up, the leverage will be slightly higher. In both cases, the margin used to open the position will be the same as the trade amount inputted.
Why was the size of my long position reduced when I opened a short position on the same trading pair?
This is due to dYdX’s One-way mode. Opening a short position on a trading pair with an open long position will reduce the long position. If the size of the short position is greater than that of the open long position, the overall direction of the position becomes short.
Why is my account empty after importing my wallet used for trading on the dYdX website into the Crypto.com Onchain app?
When you connect an EVM wallet to the dYdX website, a new wallet with a unique secret phrase is created for trading, separate from your original EVM wallet. However, when you create or import an EVM wallet into the Crypto.com Onchain app, a dYdX address is generated using the same secret phrase as your EVM wallet. This address is used for trading perpetuals directly in the app. To use the same wallet you traded with on the dYdX website, export the secret phrase from the dYdX website and import it into the Crypto.com Onchain app. You can export the secret phrase here:
Why do I already have a position in Perpetuals under dYdX?
You will see an open position if you placed one previously on dYdX. Positions are shared across both platforms since you interact directly with dYdX.
What are the associated transaction fees?
Please refer to dYdX’s fee structure here. Crypto.com Onchain also charges a 0.1% Service Fee on each trade.