dYdX Announces Major Fall Upgrade with New Trading Markets and Liquidity Features
Decentralized finance platform dYdX has announced major updates coming this fall, marking the platform's most significant upgrade since its inception.
Dubbed “dYdX Unlimited,” this new update will introduce substantial changes to the dYdX Chain.
The upgrade will enable users to create new trading markets without needing prior approval from the platform’s governance. Users will be able to list an extensive range of markets, including those with prices sourced from Raydium, Ethereum, Base, or other centralized exchanges.
To launch new markets, users must deposit a specified amount of USDC into MegaVault, the upcoming “master liquidity pool” for the platform. MegaVault will function as both a liquidity pool and market maker, ensuring adequate liquidity across all markets.
READ MORE: BlackRock Allegedly Set to Launch Its Own Blockchain Network
Participants will deposit USDC into MegaVault without needing to manage specific markets, and will share in the pool’s profits and losses, as well as the protocol’s revenue, determined by governance.
The dYdX Chain, known for its crypto token derivatives trading, remains a leading decentralized platform with over $900 million in trading volume reported on Tuesday. Additional fall updates will include a referral program offering cash rewards and enhanced security features with permissioned keys for user wallets.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
