Source: dYdX Foundation

On June 3, 2024, the dYdX community voted to upgrade the protocol to dYdX Chain Software v5.0.0. The upgrade process was successfully completed on June 6, 2024.

We are excited to announce the highlights of dYdX Chain Software v5.0.0, including independent markets and margin, Slinky price oracles powered by Skip, batch order cancellation functionality, the initial release of the liquidity vault, risk and security improvements, and performance enhancements.

Learn more here.

Notably, dYdX chain software v5.0.0 adds several new features:

Isolated Markets and Isolated Margin

dYdX chain software v5.0.0 introduces Isolated Markets, which feature isolated collateral pools and dedicated insurance funds, enabling the protocol to safely support more markets with different risk characteristics. Traders can now use isolated margin to restrict collateral to specific positions for enhanced risk and collateral management. This marks a significant step forward from the current cross-margin system, where the collateral requirements of one position are affected by the price fluctuations of other positions. With the introduction of isolated markets and margin, hundreds of new markets can be created and traded on the dYdX chain.

Slinky Helps Expand Market Reach

An important step in dYdX’s vision of a permissionless market is the launch of Slinky, a built-in oracle designed for high-performance DeFi. Slinky leverages the security of the dYdX chain to provide users with price updates per block, with a millisecond refresh rate. For the first time, it is possible to query real-time prices directly from a decentralized exchange on the dYdX chain. The initial protocol is Raydium, so Raydium markets will be available for listing on the dYdX chain.

With the launch of Slinky and standalone markets, the new market widget range will expand from 20 potentially listable markets to over 800, including popular Solana meme coins like POPCAT, BODEN, and TREMP, and any community member will be able to permissionlessly list these markets within four days with a successful governance vote.

Android Support

In addition to the above, dYdX Operations Sub-DAO announced that the dYdX Chain Trading App is now available for Android, making the platform available on all major mobile platforms including iOS. This development, combined with the introduction of independent markets and margin, enables traders to trade on the go, providing greater control and flexibility.

Legalities and Disclaimers

The purpose of the dYdX Foundation is to support current and future implementations of the dYdX protocol and to foster community-driven growth of the dYdX ecosystem.

The dYdX Chain software is open source software and may be used or implemented by any party under the applicable license. At no time should the dYdX Chain and its software or related components be considered a product or service provided or in any way offered by the dYdX Foundation. Interaction with the dYdX Chain software or any implementation thereof is permissionless and decentralized and is subject to the terms of the applicable license and code. Users who interact with the dYdX Chain software (or any implementation thereof) will not be interacting with the dYdX Foundation in any way. The dYdX Foundation makes no representations, warranties or promises regarding the dYdX chain software (or any implementation and/or component thereof), including (but not limited to) its technical attributes or performance, and its actual or potential usefulness or suitability for any particular purpose, and users agree to use the dYdX chain software (or any implementation and/or component thereof) "as is".

This article comes from a contribution and does not represent the views of BlockBeats

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