Introducing expo

Zhuoxun Yin
Published in
3 min readSep 18, 2018

The simplest way to margin trade cryptocurrency will be live on Mainnet on October 2, 2018

Announcing expo

Today, we’re excited to announce expo, the first completely trustless way to margin trade. Expo is built on the dYdX Protocol, and will be the easiest way to buy and sell dYdX Margin Tokens. Expo will initially support Short Ethereum ‘sETH’, an ERC-20 token pegged to a short ETH position, and will add support for additional short and leveraged assets in the future.

Expo will be live on mainnet on October 2, 2018.

Using expo

Expo is designed to be intuitive — buying a short or leveraged token takes just three steps once you’ve connected to MetaMask:

Step 1: Select the type of short or leveraged token to invest in:

As a trader, you can select between different margin tokens.

Step 2: Enter in the amount of ETH you want to invest:

Expo automatically displays the equivalent amount of short or leveraged tokens (in this example short ETH) that you will be able to purchase.

Step 3: Hit buy, confirm your transaction and you’re all done!

The short or leveraged token is now yours.

How expo works

Expo integrates with the dYdX Margin Trading Protocol, and allows users to buy, sell, and manage Margin Tokens. The mechanics of the protocol (obtaining a loan, spot trading) are abstracted away from the trader, significantly simplifying the margin trading experience.

Expo automatically:

  • Sources lending liquidity in the underlying asset from various dYdX lending partners
  • Sources spot liquidity from decentralized exchanges
  • Locks collateral into the position
  • Mints new short or leveraged tokens to give the user margin exposure

All users need to do is decide how much to buy.

What’s next?

Exchanges: We’re excited to announce that the first decentralized exchange to list margin tokens will be Radar Relay. Stay tuned for further announcements from the Radar team!

Margin tokens will soon be available on other decentralized and centralized exchanges.

Other assets: We’re working with liquidity providers to list additional assets on expo in the coming months. If you are interested in providing lending liquidity, let us know! You can reach us at

Learn more


dYdX Protocol

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Zhuoxun Yin

Head of Operations at dYdX. Previously at Nimble and Bain & Company