DeFi with TokenPocket | How to Use dYdX with TokenPocket

dYdX is a decentralized margin trading platform based on Ethereum. It allows users to borrow lend and make bets on the future prices of popular cryptocurrencies.

  1. Open TP Wallet and set Ethereum as the underlying asset. Tap on [Discover] and search for [dYdX], and open the APP.

2. After enter the home page, tap on [Wallet icon], select [MetaMask] to connect the wallet. Tap on [MetaMask icon] and switch Compatibility on.

3. Tapp on [Trade] on the page bottom, and tap on [Deposit], check all the boxes to agree to the Terms of Service, tap on [Agree & Login] and authorize. Now you are able to withdraw ETH, USDC, and DAI from MetaMask to your margin account on the platform.

4. After depositing assets to your margin account, you are able to open a long or short position in the isolated or cross tab.

  • Trading in Isolated opens an independently collateralized position for each trade. Losses are capped by the margin deposit for the trade.
  • Trading in Cross directly modifies your account balances without opening a position. You can utilize leverage by trading assets you do not own as long as you maintain a sufficient collateralization ratio.

5. Tap on the menu icon at the top right and you can switch between Spot trading, Margin trading, and Perpetuals trading. You can also check your balance, market info, borrow, and history, etc.

6. Check the Order Book in [BOOK] on the bottom and transaction records in [HISTORY].

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