dYdX announces updates to its chain, including a master liquidity pool that will provide liquidity for all markets across its network.
The crypto trading platform dYdX announced new updates to its dYdX chain, including permissionless listing, which allows market participants to list tokens without approval.
According to dYdX, it would allow its users to list any market on the dYdX chain without the need for governance approval. The team also said that users can instantly list markets if they deposit a certain amount of USD Coin (USDC) into a “MegaVault,” another new feature that provides market liquidity.
The chain will determine the amount needed to list new markets through its governance mechanism. dYdX claimed that the new permissionless market listing with automatic liquidity is not yet available in any other decentralized exchanges (DEXs) or centralized exchanges (CEXs).
