dYdX Unlimited Upgrade Goes Live, Democratizing Market Access to the DeFi Landscape

As per reports, popular decentralized exchange dYdX's ambitious upgrade — dubbed 'dYdX Unlimited' — has gone live.

dYdX’s highly anticipated ‘Unlimited’ upgrade has finally gone live, introducing a slew of groundbreaking features.

The most notable addition is ‘permissionless market listing,’ which allows users to instantly list any market they desire on the dYdX Chain without seeking governance approval.

Thanks to MegaVault, even newly listed markets will have ample liquidity from day one. Users can deposit USDC into the master liquidity pool to earn from the vault’s trading performance and a portion of the protocol’s revenue.

dYdX Unlimited also includes several user-centric features, such as permissioned keys for granular wallet access control and an affiliate program where users can earn a share of their referrals’ trading fees.

Finally, the platform is introducing a new interface, a streamlined onboarding process, and the ability for voters to allocate portions of their earned trading fees to third-party addresses.

According to recent research by Pantera Capital, dYdX is expected to triple its market capitalization to over $10 billion within the next year.

This ambitious valuation would place the dYdX token among the top 20 most valuable cryptocurrencies globally, alongside giants like Bitcoin and Ethereum.

The platform’s robust financial performance supports these projections, with January seeing $5.12 million in earned fees and a monthly profit of $1.83 million after token incentives.

Part of the platform’s success can be attributed to its innovative approach to trading fees and user incentives.

To elaborate, dYdX employs a tiered maker-taker fee structure that rewards active traders, with fees ranging from 0.05% for casual traders to as low as 0.025% for high-volume participants.

Such a competitive fee structure, combined with the platform’s early mover advantage and successful migration to Ethereum L2 for improved transaction speed and cost efficiency, has helped dYdX capture a significant share of the crypto perpetuals trading market (volume-wise).

In closing, the imminent release of dYdX Unlimited is being hailed by many as being more than just a network upgrade but rather a means of democratizing financial access to the DeFi landscape.

Therefore, as the crypto market evolves, it will be interesting to see how dYdX’s innovative offerings and strong fundamentals position it within the crypto exchange realm.

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