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Cryptocurrency News Articles
dYdX Foundation Launches Trump Prediction Market Perpetuals, Offering Traders Advanced Order Types on the 2024 U.S. Presidential Election Outcome
Oct 15, 2024 at 03:22 am
This innovative market was added through a governance process by the dYdX Community on October 9th. It allows users to take trading positions on the U.S.
The dYdX Foundation has announced the launch of Trump Prediction Market Perpetuals on the decentralized derivatives exchange. This new market will allow traders to use advanced order types on Donald Trump's chances of winning the 2024 U.S. Presidential Election.
The addition of this market was voted on by the dYdX Community and ultimately added on October 9th. The market will allow users to take trading positions on the U.S. election outcome in a fully decentralized and non-custodial environment. This gives traders the ability to amplify their positions and gain increased exposure to one of the most highly anticipated political events of the year. Those bullish on Trump’s chances can take long positions, while those with a bearish outlook can short the market, leveraging their insights on election dynamics for potentially greater returns.
Key Features of the Trump Perpetual Prediction Market:
Why Trade Perpetual Prediction Markets?
The combination of perpetuals with prediction markets creates a new avenue for traders to engage with narrative-driven events, such as the U.S. election. Perpetual markets allow users to maintain positions over extended periods, providing flexibility as new developments and narratives unfold. The ability to amplify trades with advanced order types provides further opportunity for higher returns, though traders should always consider the associated risks.
How to Get Started:
For those unfamiliar with trading perpetuals, an educational step-by-step tutorial for the Trump perp market is available, guiding users through the entire process.
What’s Next?
In addition to the Trump Prediction Market Perpetuals, the dYdX Community may permissionlessly introduce more leveraged prediction markets on various real-world events, including sports, global elections, and cultural events. This expansion would provide the dYdX Community with a broader range of trading opportunities, all supported by the platform’s decentralized infrastructure.
None of this is investment advice. Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets. dYdX is not available in the U.S. or to U.S. users, as well as in other restricted jurisdictions.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
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