DYdX Collaborates With Wallet Keplr To Expand Platform Reach

DeFi platform, dYdX. (Photo; Doc. HedgewithCrypto)

JAKARTA - DYdX, a decentralized financial platform (DeFi), is rumored to have partnered with Keplr Wallet to facilitate user access to its ecosystem. This strategic step is expected to accelerate the onboarding process and expand participation on the DYdX platform, which is increasingly popular in the decentralized financial world.

Through this integration, more than 1 million Keplr Wallet users can now easily connect their wallets to DYdX and trade in more than 130 markets in just three clicks. Keplr Wallet is a multi-chain wallet that supports more than 40 Inter-Blockchain Communication (IBC) chains and 8 Ethereum Virtual Machine (EVM) chains, making it one of the main wallets in the Cosmos ecosystem.

Keplr users can interact directly with the DYdX platform without losing control over their assets. For users with USDC, deposits can be made directly to the DYdX Chain. Meanwhile, those who don't have USDC can use the Cross-Chain Transfer Protocol (CCTP) to convert assets.

The existence of this feature is believed to increase the liquidity and involvement of users on the DYdX platform. The CEO of the DYdX Foundation, Charles d'Haussy, stressed the importance of this collaboration. "Keplr makes access to the Cosmos ecosystem easier, providing a safer and more efficient trading experience for DYdX users," he said.

In line with that, the CEO of Keplr Wallet, Josh Lee, welcomed this integration. "This integration gives added value to our users. DYdX with a decentralized order book and low transaction fees provides more convenience for those who want to trade in the Web3 ecosystem," he said.

In addition to this integration, DYdX is also preparing to launch a major update called DYdX Unlimited, which is scheduled to arrive next fall. This feature will bring various new typical markets and MegaVaults.

MegaVault allows users to deposit USDC stablecoins and distribute liquidity automatically to various markets, including new ones. Participating users will get a share of platform revenues, such as trading costs and other incentives, without having to manually manage liquidity.