dYdX Prepares For dYdX Unlimited Upgrade Launch This Fall, Featuring Permissionless Market Listings And MegaVault
In Brief
dYdX will launch dYdX Unlimited for dYdX Chain in Autumn, providing permissionless market listing, MegaVault, affiliate program, and more.
Decentralized exchange (DEX) dYdX unveiled its plans to launch the dYdX Unlimited upgrade for the dYdX Chain in Autumn.
The new release will provide permissionless market listing, allowing exchange users to list nearly any market with immediate liquidity and avoiding the procedure of submitting a governance proposal.
Additionally, the update will introduce MegaVault, a master liquidity pool. It is set to draw liquidity from dYdX users and function as a market maker for all dYdX Chain markets, encompassing those that were newly created. It will allow individuals to contribute the USDC tokens into the MegaVault and take part in the revenue it generates.
dYdX Unlimited will also include an affiliate program. The exchange affiliates will be able to receive $1,500 for a referral and a portion of the trading fees generated by their referred friends, who will gain an advantage of discounted rates. Affiliate links will be unlocked with trading of $10,000 at minimum on the dYdX exchange.
Furthermore, as part of several updates planned to be rolled out in the near future, individuals will be able to obtain permissioned keys to enhance the security and control of their wallets. These tools will grant them special permission to access a wallet, guaranteeing that authorized participants exclusively are enabled not to take certain actions.
dYdX Unveils MegaVault, Enabling dYdX Chain Users To Deposit And Withdraw USDC
This product operates as an exchange for perpetual futures trading, providing its users with two primary offerings: dYdX Chain and dYdX V3. Recently, the platform updated its dYdX Chain to version 5.1.0, introducing performance enhancements, Slinky updates, as well as improvements to the Vault user experience.
dYdX unveiled its MegaVault earlier this month, allowing individuals using the dYdX Chain to deposit USDC, offer liquidity to various markets, and generate yield. With MegaVault, users can now deposit and withdraw USDC at any time, offering them the flexibility to start generating yield instantly and manage their investments more efficiently.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
