Which Dexs are best for perpetual futures trading

Bitcoin_Arena

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Quote from: Outhue on November 18, 2022, 03:12:32 AM

I like DYDX but I heard you need VPN if you are in the U.S because they don't allow American people. I've not use GMX or GAINS ( gTrade ) what do you think about these two? Or which one are you using right now?

How does DYDX and Dex even appear in one sentence? I am really disappointed mate.

Folks, i think we need some refresher courses on what exactly decentralization on the blockchain is. This shit exchanges running on Ethereum or any other shitcoin smart contract fool you into believing that they are Dexes, and yet they are not.

How do I explain to my kids that a "decentralized exchange" blocked some user accounts (dYdX confirms blocking (and unblocking) some accounts flagged in Tornado Cash controversy)

mk4

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Quote from: Outhue on November 18, 2022, 03:12:32 AM

I've not use GMX or GAINS ( gTrade ) what do you think about these two? Or which one are you using right now?

Been using GMX now for a while without any problems. What's great about it also is that it scrapes prices off multiple big centralized exchanges, hence you wouldn't get those typical scam wicks(that ends you up getting liquidated) you see on specific exchanges(I'm looking at you, FTX) as prices are averaged.

Can't say for sure about Gains, but it should pretty much act the same way as GMX — with the difference being GMX being on Arbitrum and Gains being on Polygon.

Doan9269

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Why should they restrict US location from their services, this already is an indication that there's something hidden, US is one of the most recognized countries in the world and when we call an exchange being decentralized, it does not operate on location base, we have to be careful because there's a way some of these centralized exchanges painted themselves and cook up some lies of being decentralized.

sheenshane

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Have you tried these?

But of course, always do care about reading their terms as you can see dYdX has a restriction on the US citizen or resident, or physically located at in said place.

Quote from: Solosanz on November 18, 2022, 03:17:42 AM

If dYdX restrict U.S. citizens to access their site, it's mean it's not 100% decentralized since they can take a part to control the customers that use their site.

On their terms it said that the restricted places are,
"You are not permitted to access the Portal or the Services if you are a citizen or resident of, or physically located in, any of the following jurisdictions: Burma, Cote D'Ivoire (Ivory Coast), Cuba, Democratic Republic of Congo, Iran, Iraq, Libya, Mali, Nicaragua, Democratic People’s Republic of Korea (North Korea), Somalia, Sudan, Syria, Yemen, Zimbabwe, or any other state, country or region that is subject to sanctions enforced by the US Office of Foreign Asset Compliance. You must not use any software or networking techniques, including use of a Virtual Private Network (VPN) to modify your internet protocol address or otherwise circumvent or attempt to circumvent this prohibition."

Always do care reading terms which is even we know they're decentralized exchange.

Kingkongs

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As long as Dex is involved, they have absolutely no control of location or anything. Of such, any Dex exchange that does that, just note that it is a Dex with name, but operate in Cex, as their real ultimate nature

cryptoaddictchie

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Me too only Dydx is the dex I know about perpetual trading.

Quote from: Solosanz on November 18, 2022, 03:17:42 AM

If dYdX restrict U.S. citizens to access their site, it's mean it's not 100% decentralized since they can take a part to control the customers that use their site.

If there is something like this and you are right. But if its only on US means they are pretty strict with decentralized approach of trading and likely wanted to have a solid monitoring to users.

Probably OP the only best are go to cex if you wanted a lot of options but since its risky then might use dex spot trading.

Solosanz

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If dYdX restrict U.S. citizens to access their site, it's mean it's not 100% decentralized since they can take a part to control the customers that use their site.

Sadly there's no 100% decentralized exchange that offer perpetual futures trade, Bisq only offer spot trade. IMO perpetual futures is similar like gambling since you're trade with an underlying asset, it's not 1:1. I also don't think there's a 100% decentralized exchange will offer perpetual trade since it doesn't possible for them to add that's feature.

Outhue

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What are the best places to trade perpetual futures on chain this day after recent collapse of FTX? I believe that the need for decentralized platforms has become apparent.

I like DYDX but I heard you need VPN if you are in the U.S because they don't allow American people. I've not use GMX or GAINS ( gTrade ) what do you think about these two? Or which one are you using right now?

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