dYdX Teams Up With Pocket Pro Bot to Launch Telegram Perps Trading

Trading crypto perpetual futures – yep, perps – has just gotten a little easier thanks to a neat collab between dYdX and Pocket Pro Bot. The former is of course the leading onchain perps protocol, while Pocket Pro Bot specializes in creating crypto-based trading infra for Telegram users. No surprises, then for guessing what they’ve developed together – though there are a few unexpected features that come bundled with their new Telegram trading bot.

Telegram has long been the epicenter of retail crypto’s trading ecosystem, hosting not only the bulk of the chatter, but also a significant chunk of the swaps. The rise of Telegram trading bots has empowered users to find fast-rising tokens and trade them in a couple of clicks without needing to go anywhere. Up until now, that ability has mostly been focused on spot markets – but now dYdX and Pocket Pro Bot are doing the same for perps. Particularly when it comes to information sharing.

Slash Long

Telegram’s prized for its crypto trading experience not just because it eliminates hops – no need to fire up a DEX and connect your web wallet – but because the time saved directly impacts profit. As a result, traders can respond to breaking news and trading signals within the messenger app and execute a trade in three seconds or less.

The partnership between dYdX and Pocket Pro Bot allows users to share trades and positions with their friends within group charts. For example, typing a simple command such as /long DOGE will instantly open a perpetual futures position – likewise if the command starts with /short.

But beyond simple position creation, the collab brings more to the table – or rather to the group chat – such as the ability to view current positions and wallet balance. Wallets are automatically generated on Arbitrum or Solana depending on the user’s preferred network and deposits can be made using USDC or SOL.

Trade With Frens

While the dYdX-Pocket Pro Bot product is designed to meet the needs of lone wolves who prefer to operate alone, it’s been optimized for social trading. This means enabling group chat support so that trading friends can share their current positions, compete on leaderboards, and add perps-based alerts. The prospect of adding some healthy competition into the mix should ensure that rivalries can be settled and traders can put their money where their mouth is.

To add an additional frisson of excitement to the bot’s release, dYdX and Pocket Bot Pro have announced a $100K trading competition targeted at Telegram groups, which it’s labeled as “squads.” With $25K on the line for the top group based on PnL, and the same to the top trader based on volume, there are ample incentives for giving it a twirl.

The launch of Telegram-native perps trading is part of dYdX’s roadmap that aims to establish the exchange at the center of the onchain futures landscape. While pro traders will likely still undertake the bulk of their dYdX activity within the web app, where there’s full charting and support for advanced order types, the release of the Telegram bot signals a new chapter for dYdX: one designed to make perps more fun, more social, and more rewarding.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.