Zug, Switzerland, June 6th, 2024 - On June 3rd, 2024, the dYdX community voted to upgrade the protocol to dYdX Chain software v5.0.0. The upgrade was completed on June 6, 2024.
We are excited to highlight the dYdX Chain software upgrade v5.0.0, which includes isolated markets and margin, the Slinky price oracle provided by Skip, batch order cancellation, the initial version of liquidity vaults, risk and safety improvements, and performance enhancements.
Learn more here:
Notably, the dYdX Chain Software v5.0.0 adds several new features:
Isolated Markets and Isolated Margin
dYdX Chain software v5.0.0 introduces Isolated Markets, markets with segregated collateral pools, and dedicated insurance funds, allowing the protocol to safely support a greater range of markets with varying risk properties. Traders can now use Isolated Margin, confining collateral to specific positions for enhanced risk and collateral management. This marks a significant evolution from the current cross-margining system, where collateral requirements for one position are impacted by price movements in other positions. With Isolated Markets and Margin, hundreds of new markets could be created and traded on the dYdX Chain.
Expanding Market Universe with Slinky
The launch of Slinky, an enshrined oracle designed for high-performance DeFi, is an important step forward toward dYdX’s vision of permissionless markets. Slinky leverages dYdX Chain security to provide guaranteed per-block price updates with millisecond refresh rates. For the first time, Slinky enables real-time prices to be queried directly from decentralized exchanges on dYdX Chain. The initial protocol that validators will be able to query is Raydium. As a result, Raydium markets will be available to list on the dYdX Chain.
With the release of Slinky and Isolated Markets, the new market widget universe will expand from 20 to more than 800 potential listable markets, including popular Solana meme coins such as POPCAT, BODEN, and TREMP, which can be permissionlessly listed by any community member in just four days, subject to a successful governance vote.
Android Support
In addition to the above, the dYdX Operations subDAO has announced the availability of dYdX Chain trading app on Android, making the platform accessible on all major mobile platforms, including iOS. This development, along with the introduction of Isolated Markets and Margin, empowers traders with greater control and flexibility to trade anytime, from anywhere.
About the dYdX Foundation
Legitimacy and Disclaimer
Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets.
dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as in other restricted jurisdictions. The dYdX Foundation does not operate or participate in the operation of any component of the dYdX Chain's infrastructure.
The dYdX Foundation’s purpose is to support the current implementation and any future implementations of the dYdX protocol and to foster community-driven growth in the dYdX ecosystem.
The dYdX Chain software (including dYdX Unlimited) is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain and/or its software or related components (including dYdX Unlimited) be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software (including dYdX Unlimited) or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software, i ncluding dYdX Unlimited (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever. The dYdX Foundation does not make any representations, warranties or covenants in connection with the dYdX Chain software (or any implementations and/or components thereof, including dYdX Unlimited), including (without limitation) with regard to their technical properties or performance, as well as their actual or potential usefulness or suitability for any particular purpose, and users agree to rely on the dYdX Chain software (or any implementations and/or components thereof, including dYdX Unlimited) “AS IS, WHERE IS”.
Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. Users should conduct their own research and due diligence before making any decisions. The dYdX Foundation may alter or update any information in this post in the future at its sole discretion and assumes no obligation to publicly disclose any such change. This post is solely based on the information available to the dYdX Foundation at the time it was published and should only be read and taken into consideration at the time it was published and on the basis of the circumstances that surrounded it. The dYdX Foundation makes no guarantees of future performance and is under no obligation to undertake any of the activities contemplated herein.
Depositing into the MegaVault carries risks. Do your own research and make sure to understand the risks before depositing funds. MegaVault returns are not guaranteed and may fluctuate over time depending on multiple factors. MegaVault returns may be negative and you may lose your entire investment.The dYdX Foundation does not operate or has control over the MegaVault and has not been involved in the development, deployment and operation of any component of the dYdX Unlimited software (including the MegaVault).
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