dYdX continues its evolution. With $1 billion in daily volume, dYdX is one of the most popular margin trading platforms in the ecosystem. In early June, decentralized protocol management voted in favor of implementing dYdX v5.0.0. Therefore, this update is finalizing its way to the main network, where it is now functional.
The v5.0.0 update has been deployed to the dYdX Chain mainnet
Since the beginning of June, the new version of the dYdX protocol has continued its journey to the mainnet. On June 3rd it was approved by the decentralized government.
Then approve the update v5.0.0 was deployed on the dYdX Chain mainnet on June 6th.
“We are happy to present the dYdX Chain v5.0.0 software update. It includes isolated markets and margining, the Slinky price oracle powered by Skip, batch order cancellation, initial release of liquidity vaults, risk and security improvements, and performance improvements. »
dYdX
dYdX v5.0.0: development mess
On June 18, the dYdX Foundation teams revealed and explain the changes caused by this update.
Isolated markets
The first development is in the introduction of isolated dYdX markets. As their name suggests, these new isolated markets cannot communicate with other markets on the platform.
The purpose of the maneuver is to limit the risk associated with each marketand to avoid distribution in case of error or exploitation of any of the markets. This is especially practical for adding new tokens to the platform without taking systemic risks.
The introduction of isolated markets comes hand in hand with the addition of no less than 800 new dYdX markets. For example, we find many memecoins like BODEN or POPCAT.
Isolated margin
Second, v5.0.0 introduces isolated margins (isolated field). Like the marketplaces of the same name, they let you creating isolated positions and limiting the collateral (guarantee capital) to each specific position.
In this way, each position will be able to have its own collateral without necessarily having to post all available assets in its account as collateral.
LP vaults
Finally, the last major development of this update is anything but LP vaults. In effect, these LP Vaults allow users access automated liquidity strategies. So you can deposit USDC in the vault and they will be automatically allocated to different markets.
“The overall goal of any LP Vault is to provide liquidity at all times while being economically viable in the long term. Therefore, they aim to have zero net exposure in each market and deterministically adjust their pricing strategies to return to neutral positioning. »
dYdX
Integrations with other protocols
Finally, dYdX announced two major integrations. first, Skipping protocol which unlocks more than 800 new markets and allows you to receive real-time prices directly from the DEX on the dYdX chain.
On the other hand, Solana’s chosen DEX: Raidius. Its integration allows dYdX users to trade all Solana memecoins and other tokens available on Raydium.
Last April, dYdX announced the integration of the Privy solution. The purpose of this integration was to improve the user experience by adding the ability to log in via email address.