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The dYdX community has successfully voted to upgrade the protocol to dYdX Chain software v5.0.0, with the transition completed on June 6, 2024. This latest upgrade brings many new features and improvements designed to bolster the platform’s functionality and user experience.
Key Highlights of dYdX Chain v5.0.0 Upgrade
1. Introduction of Isolated Markets and Isolated Margin
The v5.0.0 upgrade introduces Isolated Markets, a significant advancement for segregated collateral pools and dedicated insurance funds. This innovation enhances the protocol’s capacity to support a broader range of markets, each with varying risk profiles.
Traders now also have access to Isolated Margin, enabling them to confine collateral to specific positions. This feature enhances risk management and collateral efficiency, moving away from the traditional cross-margining system where collateral requirements are interdependent across positions.
The potential for hundreds of new markets to be created and traded on the dYdX Chain is now present.
2. Expanding Market Universe with Slinky Oracle
The launch of Slinky, a high-performance enshrined oracle provided by Skip, marks a pivotal step toward dYdX’s vision of permissionless markets. Slinky utilizes dYdX Chain’s security to deliver guaranteed per-block price updates with millisecond refresh rates. For the first time, real-time prices can be queried directly from decentralized exchanges on the dYdX Chain.
The initial integration with Raydium allows these markets to be listed on the dYdX Chain, expanding the market widget universe from 20 to over 800 potential listable markets. Popular Solana meme coins like POPCAT, BODEN, and TREMP can now be possibly listed by any community member within four days, pending a successful governance vote.
3. Enhanced Trading Flexibility with Android Support
The dYdX Operations subDAO has announced the release of the dYdX Chain trading app on Android, making the platform now accessible on all major mobile operating systems, including iOS.
This expansion into Android support, combined with the introduction of Isolated Markets and Margin, gives traders greater control and flexibility, allowing them to trade anytime, anywhere.
Additional Features and Improvements
The dYdX Chain software v5.0.0 also includes batch order cancellation, the initial version of liquidity vaults, various risk and safety improvements, and overall performance enhancements. These updates collectively enhance the security, efficiency, and usability of the dYdX platform.
Discover More
Watch the detailed overview video for an in-depth look at the new features and improvements in the dYdX Chain v5.0.0 upgrade.
The dYdX community’s commitment to innovation and user-centric development continues to drive the platform forward, ensuring it remains at the forefront of decentralized finance.
About dYdX
dYdX is a leading decentralized exchange that allows crypto users to trade on margin through perpetual futures contracts. Committed to innovation, dYdX provides traders with advanced tools and a secure, efficient trading environment.
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