Zug, Switzerland, October 14th, 2024,
Chainwire
The dYdX Foundation is pleased to announce the launch of Trump
Prediction Market Perpetuals on dYdX, offering traders the unique
ability to apply advanced order types on Donald Trump's chances of
winning the 2024 U.S. Presidential Election.
This innovative market was added through a governance process by
the dYdX Community on October 9th. It allows users to take trading
positions on the U.S. election outcome in a fully decentralized and
non-custodial environment, giving them the ability to amplify their
positions and gain increased exposure to one of the most highly
anticipated political events of the year. Traders bullish on
Trump’s chances can take long positions, while those with a bearish
outlook can short the market, leveraging their insights on election
dynamics for potentially greater returns.
Key Features of the Trump Perpetual Prediction
Market:
- Perpetual Leverage Trading: Users can take
advantage of leverage in a perpetual market, allowing them to hold
positions without expiration and adjust trades based on changing
election dynamics.
- Advanced Risk Management: The platform
supports key risk management tools like stop-loss and take-profit
orders, helping traders navigate high-stakes political markets with
greater control.
- Real-Time Settlement: The underlying
TRUMPWINYES market on Polymarket is expected to settle to $1 if
Trump wins on November 5th and $0.00001 if he does not.
Why Trade Perpetual Prediction Markets?
By combining perpetuals with prediction markets, dYdX offers a
new way for traders to engage with narrative-driven events, such as
the U.S. election. Perpetual markets allow users to hold positions
over extended periods, providing flexibility as new developments
emerge. The ability to amplify trades with advanced order types
provides further opportunity for higher returns, though traders
should always consider the associated risks.
How to Get Started:
- Visit dYdX: Visit https://dydx.trade/trade/TRUMPWIN-USD to
explore the new Trump prediction market perps.
- Connect Your Wallet: Connect your Wallet and
Deposit USDC to fund your account.
- Place Order: Decide whether to go long (Trump
wins) or short (Trump loses) depending on what you think Trump's
odds are for the election.
For those unfamiliar with trading perpetuals, this educational step-by-step
tutorial for the Trump perp market is available, guiding users
through the entire process.
What’s Next?
In addition to the Trump Prediction Market Perpetuals, the dYdX
Community may permissionlessly introduce more leveraged prediction
markets on various real-world events, including sports, global
elections, and cultural events. This expansion would provide the
dYdX Community with a broader range of trading opportunities, all
supported by the platform’s decentralized infrastructure.
Disclaimer:
None of this is investment advice. Crypto-assets can be highly
volatile and trading crypto-assets involves risk of loss.
Investment into crypto-assets may not be regulated and may not be
adequate for retail investors. Do your own research and due
diligence before engaging in any activity involving crypto-assets.
dYdX is not available in the U.S. or to U.S. users, as well as in
other restricted jurisdictions.
For further inquiries, please contact:
MarketAcross
Email: PR@marketacross.com
Website: https://dydx.trade/
Discord: Join Our Community
Contact
Dan
Edelstein
PR@marketacross.com