The cryptocurrency market is looking to start its journey to the moon that investors have been waiting for for a long time. Bears and bulls are weakly clashing, which is driving most traders into despair. However, DeFi protocols continue to innovate relentlessly. In this regard, the dYdX platform has already spoiled its users by deploying its v5.0.0 in the first days of summer. Are you tempted by the new features of this version? GOOD ! Hold on tight because the next version of DEX might blow your mind!
Le Journal du Coin brings you this promotional article in collaboration with dYdX.
dYdX Unlimited, decentralized trading without restrictions
The news broke during the summer torper in mid-August. dYdX, Antonio Julian’s bubbling DEX, will deploy the most important upgrade to its blockchain since its launch. This is dYdX Unlimited, which will bring its share of new features. Some of its novelties are not even in the offer of large CEXs. He could tell you that too the platform is sure to become a favorite playground for many traders from all walks of life.
No more chatter! It’s time to give you an overview of the revolutionary features that dYdX has created for you.
Add all the markets you want without permission
Yes, you read that right! The permissionless list offers unprecedented freedom to its users. Users can now create new markets on the dYdX chain. You will be able to instantly create markets for virtually any asset. And that without having to go through the administrative approval process. This feature will bring great flexibility and increased ability to respond to market trends. This provides traders with a wider and more dynamic range of investment options.
The best part is the mechanism is childishly simple.
- Market selection: User has access an almost unlimited number of potential markets. This list covers a wide variety of options, from traditional cryptocurrencies to more specialized predictive markets.
- Liquidity Enablement: In order for the market to be functional, the user must make a deposit in USDC. This storage is located in a structure called MegaVault.
- Instant liquidity: After making a deposit the market immediately becomes active and liquidready for transactions.
It’s that easy!
This approach greatly simplifies the process of creating a marketplace and makes it accessible to a larger number of users ensuring immediate liquidity.
MegaVault, liquidity flows freely on dYdX
MegaVault presents itself as a central element to ensure the smoothness of exchanges on all dYdX Chain markets, including new offerings. This structure acts as a large pool of liquidity and acts as an Automated Market Maker (AMM).
Participants will be able to place USDC there, allowing them to benefit from the profits generated by the protocol’s activities. The innovative aspect lies in the passive nature of these repositories: users will not have to choose a specific market within MegaVault. In return for their contribution, they will receive a share of the revenue generated by the protocol, thereby offering an opportunity to earn without the need for active management.
In addition, the profits are immediate, there is no waiting period to earn the first interest. Note that funds can be withdrawn at any time.
This approach significantly simplifies participation in market liquidity, makes it accessible to a wider range of users, and at the same time provides them with a potential source of passive income.
Revamped affiliate program
The new dYdX affiliate program offers active users of the platform very interesting opportunity to generate passive income. It works like this:
- Eligibility: Traders with at least $10,000 in trading volume on dYdX are eligible to participate in the program.
- Mechanism: Once qualified, participants receive a unique affiliate link to share with their network.
- A win-win system :
For Referrer: Commission on trading fees generated by referred people.
For referrals: Lower trading fees.
- Earnings Potential: The program offers the opportunity to earn up to $1,500 per month for each person sponsored.
This system thus creates a synergy between dYdX community expansion and rewards for the most active users.
Permission keys to improve security
dYdX has implemented a new security system for wallets, based on authorization keys. This innovation offers several advantages :
- Granular access control: Users can now precisely define which actions (such as deposits or withdrawals) are allowed for each access key.
- Strengthened security of institutions : This feature is particularly beneficial for institutional traders as it allows them to implement stricter security protocols tailored to their specific needs.
- Expanded integration potential: This system paves the way for the possible integration of third-party services within the dYdX ecosystem, offering new opportunities for development and expansion of the platform.
This innovative approach to access management not only strengthens the overall security of the platform, but also gives users more flexibility in managing their assets. This complements the introduction of Priva, which allows login to the platform by email.
dYdX also plans to bring soon significant improvements to its interface. The challenge before us is to facilitate access to new traders regardless of their experience level in the complex world of decentralized finance. So the unlimited version of dYdX is capable redefine the art of trading by giving users great freedom of action. All that remains is to wait for it to be available and try it out!