Business News Report Technology
April 09, 2024

dYdX Collaborates With Privy To Streamline User Onboarding Experience

In Brief

dYdX partnered with Privy to enable dYdX users to create new accounts using current email or social media credentials.

dYdX Collaborates With Privy To Streamline User Onboarding Experience

Decentralized exchange (DEX), which facilitates trading in perpetual futures contracts, dYdX announced a partnership with Privy. This collaboration aims to enable dYdX users to create new accounts using current email or social media credentials. 

Privy offers developer libraries to assist cryptocurrency applications by simplifying the process of onboarding and engaging new users, providing efficient onboarding flows and wallet management solutions. Currently, it is integrated with various consumer cryptocurrency applications, such as Zora, OpenSea, friend.tech, and Blackbird, among others. Over the last year, Privy has successfully onboarded over 2.5 million users.

Privy will enable dYdX users to establish a new wallet and access their accounts using their login credentials. This integration allows new traders to effortlessly create a dYdX wallet by logging in with their social media accounts, eliminating the need to remember a seed phrase.

dYdX’s self-custodial embedded wallet enables users to deposit funds using fiat payment methods, streamlining the process of engaging with trading on the platform and making it seamless and straightforward.

“Thanks to Privy, transitioning to dYdX Chain is now as easy as using your existing email or social media profiles, ensuring a faster, simpler, and safer experience for users. This streamlined process removes traditional barriers to entry, allowing newcomers to seamlessly enter the world of perpetuals,” said James Hallam, Head of Business Development at dYdX Foundation. “dYdX Chain now feels instantly more accessible to everyday users. This increased accessibility has the potential to attract a wider audience, promoting a more inclusive and rapidly expanding dYdX Chain user base,” he added.

What’s dYdX? Decentralized Exchange Offers Perpetual Futures Contracts for Over 35 Cryptocurrencies

dYdX operates as a DEX, providing users with the ability to trade perpetual futures contracts for more than 35 cryptocurrencies, including popular options like BTC, ETH, and SOL. dYdX operates on the dYdX blockchain, an open-source application-specific blockchain software built on the Cosmos SDK and CometBFT proof-of-stake (PoS) consensus protocol. dYdX Chain is entirely decentralized, encompassing its consensus mechanism, order book, matching engine, and front end.

According to DefiLlama data, the total value locked on-chain for dYdX is currently recorded at $504.48. Over the past twelve months, the network has generated fees totaling more than $48.59 million.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

More articles
Alisa Davidson
Alisa Davidson

Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.

Hot Stories
Join Our Newsletter.
Latest News

The Calm Before The Solana Storm: What Charts, Whales, And On-Chain Signals Are Saying Now

Solana has demonstrated strong performance, driven by increasing adoption, institutional interest, and key partnerships, while facing potential ...

Know More

Crypto In April 2025: Key Trends, Shifts, And What Comes Next

In April 2025, the crypto space focused on strengthening core infrastructure, with Ethereum preparing for the Pectra ...

Know More
Read More
Read more
MAS Clarifies Regulatory Regime For Digital Token Service Providers, Addressing Industry Concerns
Business News Report Technology
MAS Clarifies Regulatory Regime For Digital Token Service Providers, Addressing Industry Concerns
June 6, 2025
Anthropic Unveils Claude Gov: Specialized AI Models Developed For US National Security Use
News Report Technology
Anthropic Unveils Claude Gov: Specialized AI Models Developed For US National Security Use
June 6, 2025
EigenLayer Rolls Out Redistribution Feature, Allowing AVSs To Repurpose And Distribute Slashed Funds
News Report Technology
EigenLayer Rolls Out Redistribution Feature, Allowing AVSs To Repurpose And Distribute Slashed Funds
June 6, 2025
First Week Of June:  Binance Academy And Solana Spark Global Blockchain Growth
News Report Technology
First Week Of June:  Binance Academy And Solana Spark Global Blockchain Growth
June 6, 2025