- dYdX Unlimited upgrade brings Direct Market Access: Additional permissionless market listings to create new tokens and trading pairs.
- With MegaVault integration, new markets can get increased liquidity, paying participants depending on the pool’s results.
- Referral program has up to $1,500 per referral to increase the number of users on dYdX and to make trading on the platform more interesting for them.
Singapore-based decentralized exchange dYdX is set to unleash its largest upgrade to dYdX so far in the coming months in the form of dYdX Unlimited. This upgrade is to enhance the platform with permissionless market listings. It enables the users to generate and list new token trading markets with no permission from the governance. This will create many trading pairs, allowing users to interact with assets correlated with oracles from Raydium, Ethereum, Base, etc.
According to a recent report, the integration of MegaVault, another liquidity pool that will facilitate these new markets is one of the improvements that forms this upgrade. Market creators will create a market by placing USDC into MegaVault, which serves to arbitrarily provoke the required liquidity. Further, MegaVault gives an opportunity to participants to receive profits depending on the result of the pool, which makes it interesting for users to participate and earn money while supporting the increasing liquidity in the market.
dYdX Expands With Referral Incentives
In a bid to encourage mass participation in dYdX unlimited, there will be a free rewards program for those who bring in others to use the platform. Referrers get up to $1,500 per referral and are paid for a part of the fees that their referred traders make. This initiative promotes the involvement and promotes acquiring a large number of users, which would force dYdX to become a more comprehensive and progressive trading platform.
Other changes that have been put into practice in dYdX Unlimited are security upgrades. Some of the benefits implicated with the introduction of permissioned keys are that it will grant control of the wallets to the users particularly the institutional traders. This feature eliminates unauthorized persons from performing transactions on behalf of other people thus bring security in the operation of the platform.
These are the major changes, however, the platform has also mentioned that it wants to redesign the user interface ensuring that the platform becomes easier to use. All of these updates, along with the other new features, make dYdX a top-tier decentralized finance platform for retail and institutional clients with improved utility, safety, and profitability.
