dYdX Launches Telegram Perps With Pocket Pro Bot And Announces $100K Trading Competition
In Brief
dYdX has partnered with Pocket Pro Bot to launch its first Telegram trading bot, combining social trading features with a $100,000 perpetuals competition to engage crypto communities.
dYdX has escaped the web browser and infiltrated your favorite crypto messenger app. Having teamed up with Pocket Pro Bot, the legendary perps protocol has launched its first Telegram trading bot and it comes packing a punch – not to mention a prize. Optimized for social trading, the bot aims to bring friends together within Telegram groups to exchange tips, bantz, positions, and the occasional flex: y’know, the usual stuff that takes place on Telegram.
But as if the novelty of a dYdX TG bot wasn’t enough, there’s another major reason why self-styled degens – as well as pro traders – might want to give it a go. That’s because dYdX and Pocket Bot Pro have announced a $100K trading competition that includes $25K for the best performing Telegram group. Don’t just bring some friends – bring your best friends. Specifically, your best trading friends who can help maximize your chances of earning a share of the spoils.
Perps Get Social
Crypto trading can be a solitary activity or it can be a highly sociable one depending on your personality and preferences. Traditionally, spot trading – particularly that of memecoins and new tokens – has favored the social format, allowing communities to band together, combining their memes, energy, and market buys to push assets higher. But there’s no reason why perps can’t also get the social treatment – even if no trading group, no matter how wealthy, is able to unilaterally move the sort of blue chip assets that dYdX supports.
The bot that it’s built with the aid of Pocket Pro Bot combines trading with a strong social component – whether it’s flexing about the win you just booked on your profit card or counter-trading the rest of your squad. Squad, incidentally, being the name given to the other traders in the Telegram groups where the dYdX bot can be deployed.
Less Friction, More Fun
The dYdX TG bot, released as part of their ongoing roadmap that aims to extend the exchange’s user base – and the ease with which they can access perpetual futures – gets a lot of things right. For one thing, it moves the markets – in terms of location at least – directly to where the cryptosphere already congregates. Now it can all be done directly within TG simply by entering a command such as /long ETH or /short PEPE. Other functions enable traders to create wallets and share position updates within TG using a simple command.
Naturally, the UX is greatly simplified inside of Telegram versus that of the full-fat experience to be gained when trading within the dYdX web terminal. Nevertheless, the bot still comes bearing a bunch of useful features including the ability to trade on Arbitrum or Solana, using USDC or SOL as supported assets. Accessing perps on the fly has never been simpler. And with the juicy carrot of that $100K trading competition dangling, dYdX is likely to see plenty of takers for its new Telegram bot.
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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.
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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.
