Leading standalone crypto exchange app-chain, dYdX will soon launch Permissionless Market Listing and other security features in its next version. dYdX announced what it termed as ‘the biggest upgrade to dYdX Chain since launch’ – with features that are never seen before.
As per the announcement, dYdX will launch Permissionless Market Listing, MegaVault, Affiliates Program, Permissioned Keys, and additional user interface features for better onboarding processes.
The never-seen-before Permissionless Market Listing feature allows one to choose the launching of a new market from a list of virtually unlimited markets including cryptos and prediction markets. Following this, the user who launches a new market will be required to deposit some USDC into a MegaVault.
The MegaVault will then automatically initiate quoting orders on that market, ensuring instant liquidity for all new markets. As the name goes, Permissionless Market Listing does not require any governance approval.
dYdX’s MegaVault will offer liquidity as well as a passive income strategy for all its users. In addition to this, another feature that is expected to be a part of this new-face of dYdX is ‘Permissioned Keys’. These keys are meant to improve security and control over users wallets.
Permissioned keys offer specific, controlled access to a wallet and they allow only authorized participants to perform certain actions, like depositing or withdrawing funds. With these features, dYdX is set to up its user experience and security to a notch higher.
Lastly, with the chain’s affiliate program, a user can earn up to $1,500 per month per referral. The official launch of the upgrade is expected this autumn.
Also Read: Stride’s new staking protocol raises dYdX stake: A new economic boom
Source: https://www.cryptonewsz.com/dydx-to-launch-new-security-features/