The biggest upgrade since the release of dYdX Chain trailer! Open up unlimited new markets for users

The decentralized trading platform dYdX announced on Tuesday that it will upgrade and update its memory blockchain network starting this autumn. This upgrade is claimed to be the largest upgrade since the launch of dYdX Chain.

DYdX Unlimited Upgrade

As part of the upgrade, a new upgrade called dYdX Unlimited will allow dYdX Chain users to list new token trading markets without the need for governance approval. The platform states that users will be able to list "almost unlimited" trading markets, which can be any asset supported by price oracle machines on Raydium, Ethereum, Base, or any centralized exchange.

And users who want to launch new markets on dYdX need to deposit a certain amount of USDC into MegaVault (its ongoing "mainstream liquidity pool"), and the specific amount will be determined by governance.

dYdX Chain， Also known as dYdX v4, it is an application chain developed based on Cosmos to facilitate trading of cryptocurrency derivatives. According to trading volume calculations, dYdX v4 is already one of the top decentralized perpetual contract exchange platforms, with trading volume exceeding $900 million on Tuesday alone.

What is MegaVault for dYdX?

MegaVault will serve as a liquidity pool and market maker for the dYdX Chain market to ensure sufficient liquidity in all markets. In other words, MegaVault's depositors will become counterparties to dYdX platform users. DYdX represents:

Providing liquidity on dYdX through MegaVault is passive. Users do not need to choose a specific market to provide liquidity, but only need to deposit USDC into MegaVault

The DeFi platform states that the new liquidity pool allows anyone who deposits USDC to participate in its profit sharing. Users will share the profits and losses of MegaVault and receive a portion of the protocol revenue, which will be determined by governance.

Other autumn updates include recommendation programs with cash rewards and authorized keys that provide better security and control for users' wallets.