DYdX presented the upcoming update for the dYdX Chain blockchain
15.08.2024
The decentralized derivatives exchange dYdX has announced a major update to its dYdX Chain blockchain, expected this fall. The new upgrade, called dYdX Unlimited, will bring a number of significant features and greatly expand the capabilities of the platform’s users. The main goal of the update is to make the platform more accessible, efficient, and attractive to both regular traders and institutional investors.One of the key new features is Permissionless Market Listings. This innovation will allow users to independently create new markets and trade on them without the need for approval or voting procedures. All that is required to launch a new market is a deposit of a certain amount in USDC. This opens new opportunities for the rapid launch and development of markets on the platform, fostering a more flexible and open trading ecosystem.Another important part of the update is MegaVault—a new liquidity pool that will act as a market maker for all markets within the dYdX Chain. This pool will receive liquidity directly from dYdX users, thereby enhancing overall liquidity on the platform and ensuring stable operation across all markets. MegaVault will also play a key role in maintaining the platform’s competitiveness by providing market depth and supporting stable asset pricing.The Affiliates Program will also be a crucial element of dYdX Unlimited. This referral system will allow users to earn up to $1,500 for each new client they bring to the platform. Additionally, participants in the program will receive a portion of their trading commissions and enjoy discounts, making this program particularly beneficial for active traders and promoters. For institutional investors and high-volume traders, dYdX introduces Permissioned Keys—a new solution for enhancing security. These permissioned keys will ensure that all transactions are executed only by authorized participants, providing a high level of control over wallets and operations. This is especially important for users dealing with large sums who require extra security measures to protect their assets.The dYdX team also promises new integrations and interface updates in the coming months, making the platform more user-friendly and functional for all types of users. "This is just the beginning!" the developers emphasized, hinting at further steps to expand dYdX’s functionality and grow the platform in the future.Thus, dYdX Unlimited marks a significant step forward for the decentralized exchange, providing users with new opportunities, improving liquidity, and enhancing the security and convenience of trading.