dYdX – crypto derivatives trading platform releases an app via Apple’s iOS store

dYdX, a perpetual contract trading platform, has created an app for customers outside the United States that will provide the same functionality as its website.

DeFi exchange dYdX launches its own app to provide its consumers with a better experience. The software is exclusively accessible on the iOS AppStore, and there have been no reports of an Android debut. With the release of this app, dYdX joins the ranks of the few DEXs that provide a smartphone app. This may also explain why so many people are interested in it.

Before the formal launch, over 200,000 people have already joined up for their beta program; according to a May 10 announcement.

One of the most significant impediments to adopting DEX is that they are mostly available on the PC in online form. In theory, you can use it on a smartphone with a browser, but the experience will be subpar.

Most of us have developed the habit of using our cellphones for nearly everything, whether it is for entertainment, studying, managing our finances, or anything else. As a result, the absence of DEX apps creates a barrier for the average user to begin using the platform.

That will change with dYdX’s app, which has the same capabilities as the web version. Gas-free deposits and trading, as well as a fantastic experience with multiple crypto wallets such as Trustwallet and Metamask. More significantly, because it is now on your phone, you can access it on the go.

dYdX now only offers derivatives and perpetual contracts but wants to expand into spot and margin trading in the near future. According to the startup, they will also be the first 100 percent decentralized exchange.

“The app offers the same functionality and unparalleled product experience that are available on our main exchange website with the added convenience of being able to trade on your iPhone,” dYdX said.

So why haven’t more DeFi protocols followed suit?

The straightforward explanation is that the implementation is complicated. Most developers, particularly those targeting the US market, prefer to publish their products first on iOS.Furthermore, Apple’s restrictions are stringent, making it difficult to provide DeFi services. According to Coinbase’s CEO in 2020, Apple does not enable exchanges to offer crypto transactions in “non-embedded software within the app.”

There are additional regulatory difficulties and the 30% cut that developers must deal with to be published on AppStore. However, we believe that sooner or later, additional DeFi initiatives will develop their own apps to cover this void.

What do you think about DeFi exchange dYdX releasing its own app? Do you believe applications can enhance the use of decentralized exchanges?

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Harold

CoinCu News