- dYdX gives traders a new method to interact with events that are driven by narratives, like the U.S. election.
- A instructional step-by-step guide for the Trump perp market is provided for individuals.
With great pleasure, the dYdX Foundation announces the launch of Trump Prediction Market Perpetuals on dYdX, which gives traders the exclusive opportunity to use sophisticated order types on Donald Trump’s prospects of winning the 2024 U.S Presidential Election.
On October 9, the dYdX Community added this unique market via a governance procedure. Users may magnify their holdings and expand their exposure to one of the year’s most anticipated political events by trading wagers on the result of the U.S. election in a completely decentralized and non-custodial environment. In order to possibly increase their gains, traders who are optimistic about Trump’s prospects might take long bets, while those who are pessimistic can short the market.
The Trump Perpetual Prediction Market’s salient features include:
- Perpetual Leverage Trading: In a perpetual market, users may use leverage to hold positions without expiration and modify trades in response to changing election conditions.
- Advanced Risk Management: The platform gives traders more control over high-stakes political markets by supporting essential risk management tools like take-profit and stop-loss orders.
- Real-Time Settlement: If Trump prevails on November 5th, the underlying TRUMPWINYES market on Polymarket is anticipated to settle to $1; if not, it is anticipated to settle to $0.00001.
Why Trade Perpetual Prediction Markets?
dYdX gives traders a new method to interact with events that are driven by narratives, like the U.S. election, by fusing prediction markets with perpetuals. Users may maintain positions in perpetual markets for long periods of time, giving them flexibility when new events occur. Although traders should always take into account the dangers involved, the potential to magnify transactions using advanced order types offers additional opportunities for bigger gains.
How to Begin:
- Go to dYdX: Find out more about the new Trump prediction market perps at https://dydx.trade/trade/TRUMPWIN-USD.
- Link Your Wallet: To fund your account, connect your wallet and deposit USDC.
- Place Order: Depending on your assessment of Trump’s chances of winning the election, choose to go long (Trump wins) or short (Trump loses).
This instructional step-by-step guide for the Trump perp market is provided for individuals who are not acquainted with trading perpetuals, and it walks users through the whole procedure.
What Comes Next?
The dYdX Community may permissionlessly introduce more leveraged prediction markets on a range of real-world events, including global elections, sports, and cultural events, in addition to the Trump Prediction Market Perpetuals. The decentralized architecture of the platform would provide a wider variety of trading options for the dYdX Community as a result of this growth.
Disclaimer:
This is not financial advice. Cryptocurrency trading has a risk of loss and may be very volatile. Retail investors may find investing in crypto-assets inadequate and unregulated. Conduct independent investigation and due diligence before to participating in any cryptocurrency-related activity. In the United States and other restricted areas, dYdX is not accessible to U.S. users.
