The iOS mobile app for dYdX, a decentralised crypto derivatives exchange, has been introduced in beta.
The app is presently available to 10,000 users who match certain conditions, according to dYdX. The priority queue and the referral waitlist are two open waitlists that outline such criteria. Users must have at least 10 DYDX or stkDYDX tokens, or one Hedgie, a collection of 4,200 NFTs recently provided by dYdX to its community, to participate in the former. To qualify, they must also have a trading volume of at least $1,000 after 4 p.m. UTC on March 9. The priority waitlist will be available until March 23.
Users must sign up for the beta app and post their link on social media channels to gain access to the referral waitlist. They will receive one point for registering, two points for sharing on social media, and three points for each successful referral. The more points they earn, the higher they will rank on the queue in a traditional startup growth hack.
It is one of the first DeFi platforms to launch a mobile app, according to the claim made by dYdX. The goal, according to dYdX CEO Antonio Juliano, is to provide users with an experience comparable to that of centralised exchanges. Users will be able to trade immediately after connecting their crypto wallets to the dYdX mobile app. Users may encounter errors because it is a beta version, but Juliano claims that the app’s overall security is comparable to dYdX’s primary desktop app.
Juliano estimates that the dYdX iOS app will be available to the public by the end of next month. It’s unclear whether the exchange plans to produce an Android app as well.