dYdX starts Alpha test of BTC / USDC 10 times perpetual contract

dYdX opens the internal test of BTC / USDC 10 times perpetual contract Alpha, and users who receive the email can officially start the contract test transaction. BTC / USDC is the first perpetual contract launched by dYdX. The contract has no expiration time. With USDC as margin and settlement, it will include a fund rate mechanism to ensure that the index price is anchored in the perpetual contract market. The initial margin is 10%. Maintaining the margin at 7.5%, the person who placed the order can earn a transaction fee of 0.025% each, and the person taking the order needs to pay a transaction fee of 0.075% each. All the liquidation process will be carried out on the chain. The predictor of the index price uses MakerDAO BTCUSD Oracle V2 to obtain the median price of the 7 exchanges of Binance, Bitfinex, Bitstamp, Coinbase Pro, Gemini, Kraken and Upbit. dYdX has opened the test application entrance of this function. In addition, dYdX indicates that the perpetual contract function is not open to American users.