dYdX Exchange Launches Trading for Terra (LUNA) and Near (NEAR)

dYdX Exchange Launches Trading for Terra and Near Tokens

Decentralized exchange dYdX has announced the launch of trading for Terra (LUNA-USD) and Near (NEAR-USD) tokens. According to a post on the exchange's official blog, the new markets are now live and available to eligible traders outside of the United States. This latest addition brings the total number of markets available on the Layer 2 product to 33.

Trading Features and Specifications

Traders can now trade both LUNA and NEAR with up to 10x leverage, cross margining, and zero gas fees. The LUNA-USD and NEAR-USD markets operate on a perpetual contract basis, which means there is no expiration date for the contracts.

The minimum order size is set at 0.10 LUNA and 1.00 NEAR respectively, with a tick size of $0.0100 USD for both markets. Both markets also share an initial margin requirement of 10.00% and a maintenance margin requirement of 5.00%. The maximum leverage available for both markets is 10x.

The mark price for liquidations is determined by the index price, provided by Chainlink's Layer 2 price feed. Funding payments are credited or debited at the start of each hour and are included in the realized PnL for the position. The funding premium is scaled to have a realization period of 8 hours (8-hour funding rate).

About dYdX

dYdX is a leading decentralized exchange that aims to build open, secure, and powerful financial products. The exchange operates on audited smart contracts on Ethereum, eliminating the need to trust a central exchange while trading. dYdX combines the security and transparency of a decentralized exchange with the speed and usability of a centralized exchange.