dYdX Unlimited: Will It Revolutionize The DEX And Perpetual Trading Scene?

dYdX Unlimited is set to go live this Fall, and analysts say it will revolutionize trustless DEX crypto trading and Perp markets.

Crypto is evolving. From ICOs, we now have IDOs. Instead of complex swaps via EtherDelta, traders can simply hop on to Uniswap to list and instantly trade their tokens or engage in perpetual swaps via dYdX.

This growth has been impressive and reflects the effort put in by innovative developers over the years.

The Rise And Rise of dYdX

However, behind this massive leap, dYdX has left its mark on the trustless perpetual trading scene.

The DEX was one of the first to launch, first as an Ethereum layer-2 using zero-knowledge technology, before deploying on its native chain using Cosmos.

As of mid-August, dYdX supports 129 markets and generates over $958 million in trading volume, larger than some mainstream CEXes.

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Of note, traders can trade either on dYdX v4 on the dYdX chain or via layer-2 on Ethereum.

Introducing dYdX Unlimited: List Any Market On dYdX

These options translate to diversity, serving the needs of various traders.

This fall, the DEX will launch dYdX Unlimited.

The DEX says the product is the “most significant upgrade since deploying the dYdX chain” and will introduce several features.

One will be the introduction of permissionless market listings where users are free to list any market on the DEX with instant liquidity. This tool will be a game changer since it bypasses the need for a governance proposal.

Currently, DYDX holders have to vote and accept the listing of any market on the DEX, slowing down the range of trading options, which can impact user experience. With

Once this goes live, the number of markets on dYdX will likely explode, pushing trading volume even higher.

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dYdX MegaVault Intent on Boosting Liquidity And Security

Additionally, dYdX plans to release MegaVault, a master liquidity pool that sources liquidity from platform users.

In essence, it will serve as a master market maker for all dYdX chain markets.

Those wishing to supply liquidity must deposit USDC and receive a share of the platform’s revenue.

 

This system, the exchange said, would significantly boost liquidity and allow providers to generate passive income.

On the security front, dYdX Unlimited will introduce permissioned keys, giving users more control over their wallets.

Here, they will be free to grant access to specific participants who are, in turn, free to perform certain actions, making trading even more secure.

A Lucrative Referral Program: Don’t Miss Easy Profits

Further supplementing the MegaVault will be an affiliate program meant to incentivize users to refer others to the exchange.

In this program, dYdX Unlimited will allow affiliates to earn up to $1,500 per referral in addition to receiving a share of trading fees generated by the referral.

Those wishing to refer users must trade at least $10,000 to unlock the exclusive affiliate link.

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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.