dYdX Chain has announced that it will be rolling out its most significant upgrade since its inception, scheduled for release this fall. The update introduces a number of groundbreaking features that will redefine the decentralized exchange (DEX) landscape.
dYdX Chain Prepares to Launch Major Autumn Update
The upcoming upgrade will allow users to list almost any market on dYdX Chain without needing management approval.
By depositing a certain amount of USDC into MegaVault, users can create new markets that include cryptocurrencies and prediction markets.
MegaVault will then automatically place orders on newly launched markets, providing instant liquidity. This feature, unique to dYdX, aims to remove barriers to market making and provide instant liquidity for all new listings.
MegaVault is a central innovation in this upgrade, serving as a main liquidity pool and market maker for all dYdX Chain markets.
By depositing USDC into MegaVault, users can passively provide liquidity across the platform without having to choose specific markets.
MegaVault will distribute liquidity generated from user deposits and share both its profits and protocol revenue with contributors, potentially offering high APR yields.
dYdX is also launching an affiliate program that rewards users for referring new traders. After trading at least $10,000, users can get a special affiliate link to refer friends.
New traders will benefit from discounted rates, while affiliates will earn a share of the trading fees generated by their referrals. Rewards can reach up to $1,500 per month per referral, with additional bonuses and benefits available depending on community management decisions.
*This is not investment advice.
