The simplest way to margin trade cryptocurrency
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.
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:
Step 2: Enter in the amount of ETH you want to invest:
Step 3: Hit buy, confirm your transaction and you’re all done!
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.
- 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.
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 firstname.lastname@example.org.
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If you’d like to help us build the future of finance, take a look at our open roles across engineering, design and operations!