dYdX Chain is going to reveal its biggest update since debut this autumn. Unprecedented functionality for both centralized and decentralized exchanges will be introduced with the upgrade.
MegaVault: Transforming Liquidity and Market Listings
With the update, users won’t need governance clearance to list almost any market on the dYdX Chain. From a long variety of options, users will be able to start new markets, such as cryptocurrency and prediction markets. They must deposit a specific quantity of USDC into the MegaVault, as decided by governance, in order to do this. Since MegaVault will instantly start quoting orders, this new feature will guarantee quick liquidity.
A key element of this update is the MegaVault, which acts as a market maker. Users who deposit money into it and share in the profits it makes provide it with liquidity. Depositors will get a share of protocol income that is decided by governance, as well as a fraction of MegaVault’s profit and loss. It is anticipated that this would lead to a high annual percentage rate.
A program for affiliates is also included in the update. To invite friends to dYdX, users must trade at least $10,000 in order to acquire a unique affiliate link. Referrals receive cheaper prices, and affiliates receive a portion of the trading fees paid to them. Each recommendation has the potential to earn up to $1,500 per month, and contingent upon community governance, there may be more incentives and benefits.
New Features for an Improved User Experience and Security
The addition of permissioned keys is another element of the update. These keys, which provide restricted, targeted access, will improve security and control over users’ wallets. This function aims to provide a more flexible and safe setting for corporate and valuable merchants. It could also make it easier for outside parties to integrate with the dYdX Chain.
Users may anticipate more integrations, an updated user interface, and simpler onboarding procedures in the upcoming months. The dYdX team is excited about the upcoming chapter and welcomes user feedback.
dYdX aims to simplify the availability of monetary opportunities, and dYdX Chain is a big step in the right direction. The firm extends an invitation to anybody who is interested in joining their community conversations and exploring job options.
It’s crucial to remember that this data only applies to the open-source v4 program from dYdX Trading Inc. with its default settings. Neither the dYdX Chain infrastructure nor its operations are managed by dYdX, nor does it install or execute v4 software for public usage.
Users understand and agree that the company that provides the program assumes no obligation for any actions, results, or aftereffects that arise from using v4. This disclaimer applies to all people, companies, and organizations, among other entities. It is expressly forbidden for anyone to access or use any dYdX services or products if they are a resident of, situated in, or have offices in different countries that the dYdX Terms of Use designate as restricted.
This content is intended primarily for informative reasons; it is not to be interpreted as expert advice on investments, taxes, law, finances, or any other area. Before making any choices on investments, taxes, finances, or legal issues in connection with this content, users are strongly advised to perform extensive and independent study, practice due diligence, and consult with certified specialists. The v4 Terms of Usage, which regulate both the information given and any related software use, apply to all users of the v4 program.
Additionally, users should be prepared to list markets on a variety of centralized exchanges, such as Ethereum, Base, Raydium, or other similar platforms, with an oracle pricing mechanism available from the outset. This capability is anticipated to be integral to the launch process and should be taken into account when planning market listings.
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