dYdX goes live with decentralized market for bitcoin perpetual contracts

Less than a month after an initial debut, the Andreessen Horowitz-backed non-custodial exchange dYdX has announced the public launch of its bitcoin perpetual contracts market.

The decentralized market, dYdX said in a Wednesday announcement post, is now live for trading (although they are not available in the U.S.). As reported by The Block last month, the contracts market was previously being tested by a pool of alpha participants.

dYdX said of that process:

"With the help of over fifty Alpha traders and Partners, we have spent the last three weeks stress-testing our system during market volatility, collecting UI & UX feedback, and growing liquidity on our order books with market makers. We have specifically asked traders to ramp up slowly, and to start trading with larger amounts gradually. To date, almost $5M has been traded since going into Alpha, with $3M of that coming since Sunday." 

"We are excited to launch our Perpetual Markets to the public, and gather additional feedback from our community," the team added.

Looking ahead, the dYdX team said that it intends to continue work on the perpetual contracts "as well as launch new perpetual markets in the coming months."