Strategies to Make Your dYdX Clone Stand Out in DeFi

[johnmathewy]

If you're in the idea of creating a DeFi solution with a dYdX clone, then know that simply replicating their technology is no longer enough to succeed in this sector. DeFi users are now more experienced, and they expect better user experiences and new innovations in the DeFi platforms.

So, how can you be your dYdX clone different?

First, don't just mirror perpetual contracts' features seen in dYdX; think about how you present them. Can you provide margin options that are risk-sensitive for traders? Or a simpler design for users who mainly use phones in newly developing countries?

Also, having enough liquidity is more important than a fancy brand. A nice-looking interface is not worth it if traders face more slippage on your platform. Create strong reasons for people to add liquidity early on—think veToken models, tiered rewards, or volume-based rebates. Real traction starts there.

Think about including better ways to control risk. Consider implementing some features on your dYdX clone, like customizable stop-losses, circuit breakers during volatility, or on-chain insurance pools, aren't just features—they're trust builders.

Next thing? Consider adding an on-chain reputation system. Let active users gain benefits by acting responsibly, like lower fees, influence in decisions, or special access to new tokens.

And pay attention to your community. Not just talking on Discord, let your early users help decide on fee structures, vote on token burns, or choose which trading pairs to add.

Lastly, make gas fees as low as possible. Since dYdX is moving to Cosmos, many DEX clones that use Ethereum are becoming slower. You can make this scenario better by adding Layer 2 solutions on your dYdX clone.

Plan your work well before starting. Making an exact clone is acceptable, but improvement over time is best to sustain in the long term.

Remember: Your dYdX clone should be created strategically by implementing the features to match your target audience's goals.