May 27th Update: Unfortunately, the 60% off of trading fees discount period is now over. However, regardless of whether you are a new or existing dYdX user, you can still get 10% off using our referral link! https://trade.dydx.exchange/r/globalcoin
Dear GCR readers and friends, BTC-USDC is now live on dYdX!
Global Coin Research is teaming up with the dYdX team to offer our readers a whopping 60% off trading fees on the first launch week of their new Bitcoin Perpetual Market, with up to 10x leverage.
And this discount applies to BOTH EXISTING and NEW CUSTOMERS. All you have to do is use our exclusive referral link.
GCR x dYdX
When you first click through our referral link, you’ll see a 10% discount offer.
But where is the 60% discount you ask?
In fact, dYdX is celebrating the launch along with the recent Bitcoin halving, they are offering a 50% discount on BTC-USDC trading fees for one week.
So, when our users click through our referral link, you are getting the combined 50%+10% =60% discount total!
Why Are You Partnering with dYdX?
Here’s a little bit more info about why we are partnering with the team:
- From our perspective, dYdX is the best place to get liquid trading exposure on BTC while retaining custody of funds
- There is already over 500K USDC on the order books at a 1 USDC spread, with less than 100 users on the platform. See the latest spreads and liquidity numbers all the way down.
- dYdX provides the only BTC Perpetual with fully transparent and verifiable liquidation mechanisms
- Given recent market volatility, traders are increasingly expressing concerns around opacity and lack of transparency of existing perpetuals such as BitMEX. If there was ever a product that made sense to be built with transparency in mind, it is dYdX.
- It’s THE Simplest way to trade the volatility of BTC
- Get linear exposure to the BTC/USD futures curve without having to simultaneously worry about the value of collateral (as with inverse perpetuals margined in BTC, ETH etc).
- Most secure derivatives platform on DeFi
- dYdX’s infrastructure with the highest industry standards. The smart contracts have also been audited by OpenZeppelin — a leading security audit firm. No critical or high severity issues were found.
Latest Spreads and Liquidity Stats
According to the CEO Antonio Juliano, here are the last 24 hour spreads on the platform:
BTC-USDC perpetual: 1 USDC / 0.01%
ETH-DAI: 0.04 DAI / 0.02%
ETH-USDC: 0.33 USDC / 0.17%
DAI-USDC: 0.0007 USDC / 0.07%
- ETH-DAI has a spread of 0.02% with almost 500k DAI liquidity within a 1% price spread
- ETH-USDC has a spread of 0.17%, and has over 800k liquidity within 1% (including a casual 3,000 ETH buy order close to mid-market)
- DAI-USDC has a spread of 0.07% and over 700k liquidity within 1%
Indeed, dYdX still has a bit to go before it gets to centralized exchange levels of liquidity, but it’s not that far off Coinbase has a spread of 0.005% and ~$1.16M within 1% on ETH-USD.
Join US NOW on dYdX and take advantage of the 60% discount!