📣 dYdX Announces a Major Platform Upgrade
posted 14 Aug 2024
The decentralized exchange dYdX is set to roll out a major upgrade to its platform in the fall of 2024, which will introduce several new and unique features. One significant change will allow users to list any token issued on the dYdX Chain without requiring approval from the development team.
To list a token, users must deposit a predetermined amount of USDC into the MegaVault liquidity pool, as set by the platform’s management. This pool will then act as the market maker for all trading pairs on the platform, initiating an automated quoting process.
We are incredibly excited about permissionless market listings with automatic liquidity because this feature is not available on any other DEX or CEX,stated the exchange.
Users can also invest in MegaVault without listing tokens, simply to profit (or potentially incur losses) and earn a share of the protocol’s revenue, as determined by the developers. The main advantage is that users do not need to select specific liquidity pools; MegaVault automates all processes.
Additionally, the update will introduce permissioned keys that allow limited access to one’s wallet by third-party users or apps. It will also enhance the user interface, registration system, affiliate program, and include new integrations.
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