dYdX is set to introduce its most significant upgrade yet, dYdX Unlimited, this upcoming fall, bringing a suite of innovative features that will provide traders with unparalleled opportunities, setting a new standard in both decentralized and centralized exchanges.
Permissionless Market Listing
One of the most exciting features of dYdX Unlimited is the introduction of permissionless market listings. For the first time, users will be able to list virtually any market on the dYdX Chain without requiring governance approval. This feature democratizes the market creation process, allowing users to select from a nearly unlimited array of markets, including cryptocurrencies and prediction markets.
To ensure liquidity from the get-go, users launching a new market will need to deposit a certain amount of USDC into the MegaVault—a master liquidity pool designed to quote orders on all markets automatically. This feature guarantees instant liquidity, making dYdX the first platform to offer such functionality on either a decentralized or centralized exchange.
MegaVault Liquidity Provision
The MegaVault is another pivotal component of dYdX Unlimited. Serving as a master liquidity pool, the MegaVault ensures sufficient liquidity for all markets on the dYdX Chain, including newly listed ones. Users can deposit USDC into the MegaVault and, in return, participate in the revenue it generates. Depositors will not only share in the MegaVault’s profits and losses but also receive a share of protocol revenue, which is anticipated to yield a high APR.
What makes MegaVault particularly innovative is its passive nature. Users don’t need to pick specific markets to provide liquidity; they simply deposit into the MegaVault, and the system automatically allocates liquidity where it’s needed. This feature makes liquidity provision both accessible and profitable, catering to everyone from risk-averse farmers to active traders.
Affiliates Program - Monetize Your Network
dYdX Unlimited also introduces a revamped affiliates program, designed to turn users’ networks into lucrative ventures. By trading at least $10,000, users can unlock an exclusive affiliate link. This link allows them to invite friends to trade on dYdX, earning a share of their trading fees while the invitees benefit from discounted rates. The potential earnings are substantial, with the possibility of earning up to $1,500 per month per referral.
The program may also include additional bonuses and perks, which will be determined by community governance.
Permissioned Keys
In a bid to provide enhanced security and control, dYdX is introducing permissioned keys. These keys allow users to grant specific, controlled access to their wallets, ensuring that only authorized participants can perform certain actions, such as depositing or withdrawing funds. This feature is particularly appealing to institutional and high-value traders who require additional security measures.
Permissioned keys could also pave the way for third-party integrations with the dYdX Chain, offering developers and institutions a secure and customizable environment for their trading activities.
What’s Next for dYdX?
The innovations don’t stop there. Over the next few months, dYdX users can expect a refreshed user interface, easier onboarding processes, and exciting new integrations. As dYdX Unlimited prepares for its fall release, the platform is poised to set new standards in the industry, offering features and functionalities that have never been seen before on any exchange.
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