Dolomite DEX confirmed it has added a margin trading feature to stop-loss orders, stating that the latest feature will run on the dYdX protocol. Dolomite DEX launches limit order margin trading.
Platform users can take long positions up to 5X leverage. They can also take short positions directly from their wallets with up to 4X leverage.
The company said in a press release: Global exchange
“Dolomite will also be one of the first decentralized exchanges to offer leveraged limit order trades, allowing a leveraged trade to fill only at a certain price. Dolomite is building off of the dYdX margin lending protocol, giving it access to over $30 million in lending liquidity.”
The aim of the company is to make trading on the DEX margin as easy and efficient as possible. A decentralized exchange (DEX) is a peer-to-peer (p2p) online service that allows direct cryptocurrency transactions between two interested parties.
Dolomite will be one of the first DEXs to offer margin trading caps, enabling users to place a trade at an exact price with up to 5x leverage, rather than at the market price.
The company has developed and named it “margin protection” to liquidate positions at slightly higher collateralization to allow traders to keep as much of your deposit as possible.
Global xchange- Individuals will still have 15 per cent of the initial deposit, instead of 10 per cent, after liquidation, which will provide extra crypto that can be put towards the next investment.
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