What is the Instant Deposit feature on dYdX?
Instant Deposits allow users to deposit crypto assets from other networks into dYdX Chain in under 60 seconds. This feature streamlines the onboarding process, reducing deposit times from over 18 minutes (on average) to under a minute.
How does Instant Deposits improve my trading experience?
Instant Deposits provide near-instant access to funds, allowing users to quickly participate in dYdX’s decentralized perpetual markets. The faster access helps to avoid delays and improves the overall trading experience.
Who is powering the Instant Deposits feature?
The technology behind Instant Deposits is powered by Fun.xyz, a web3 infrastructure provider specializing in seamless and quick deposit solutions. Their technology enables seamless liquidity access and instant transactions for web3 platforms like dYdX Chain.
How can I make an instant deposit?
To make an Instant Deposit, follow these steps:
Visit https://dydx.trade/
Connect your wallet and select “Deposit.”
Choose the “Instant” option, select the option to deposit from any EVM-compatible chain.
Complete your deposit in less than a minute.
What deposit methods are available?
Instant Deposits support transfers from any EVM-compatible chain (e.g., Ethereum, Binance Smart Chain).
Are there any fees for using Instant Deposits?
Yes, the fees include a minimal transaction fee charged by fun.xyz along with optimized gas fees and other small charges depending on the source asset, all transparently detailed in the transaction summary prior to completing your order.
Is there a limit on how much I can deposit using Instant Deposits?
Yes, the transaction limit is set at $5,000 per deposit. However, Fun.xyz plans to increase this limit significantly in the future.
Are Instant Deposits mobile-compatible?
Currently, Instant Deposits are desktop and mobile browsers compatible. Future updates will include native mobile apps compatibility and additional features.
What should I do if I encounter an issue with my deposit?
For support with any issues, contact the dYdX Chain support team or consult the help section on the dYdX website.
Can I use Instant Deposits with any wallet?
Instant Deposits are compatible with popular EVM wallets used to connect to dYdX Chain. Select your preferred wallet on the platform, connect, and proceed with the deposit process.
Disclaimer and Terms
This document may provide information with respect to the dYdX Chain software, and/or non-mandatory guidelines and suggestions that may help with using dYdX Chain software. dYdX Operations Services Ltd. does not run dYdX Chain validators nor operate or control the dYdX Chain network. dYdX Operations Services Ltd. is not responsible for any actions taken by other third parties who use dYdX Chain software. dYdX Operations Services Ltd. services and products are not available to persons or entities who reside in, are located in, are incorporated in, or have registered offices in the United States or Canada, or Restricted Persons (as defined in the Terms of Use). The content provided herein does not constitute, and should not be considered, or relied upon as, financial advice, legal advice, tax advice, investment advice or advice of any other nature, and you agree that you are responsible to conduct independent research, perform due diligence and engage a professional advisor prior to taking any financial, tax, legal or investment action related to the foregoing content. Axelar, Squid, Circle and Noble are independent from and unaffiliated with dYdX Operations Services Ltd., and dYdX Operations Services Ltd. is not responsible for any action taken by the foregoing or any other third parties, including content set forth on any third-party websites, such as any links to such content in this document. The information contained herein, and any use of products or services provided by dYdX Operations Services Ltd., are subject to the Terms of Use.