dYdX to allow a new update without permission list

Crypto trading platform dYdX has announced new updates to the dYdX chain, including permissionless listing, which will allow market participants to list tokens without permission.

According to DIDX, it allows users to list any market on the DIDX chain without the need for administrative approval. The team also revealed that if users deposit a certain amount of US Dollar Coin (USDC) into “MegaVolt”, they can list markets in a new feature that provides another market liquidity.

The chain determines the amount needed to list new markets through its management system. dYdX said the new decentralized market listing with automatic liquidity is not yet available on any decentralized exchanges (DEXs) or centralized exchanges (CEXs).

dYdX introduces a new main liquid pool

Along with its license-free listing feature, dYdX is introducing MegaVault, a feature that ensures adequate liquidity in all its markets. This includes new markets being added through the unlicensed list feature.

MegaVolt serves as the platform's main liquidity pool and market maker for all markets. The vault allows users to deposit the liquid and receive a portion of the revenue it generates. Depositors of the exchange will also receive a share of the protocol's revenue.

dYdX claims that this method yields a higher annual percentage rate (APR) for its investors. In addition, MegaVolt depositors do not need to choose which markets to provide liquidity as the funds are automatically traded across multiple markets.

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dYdX users generate revenue from a variety of sources, including vault placement, trade fees, and other incentives. Additionally, users can deposit and withdraw their USDC from the store at any time. dYdX wrote:

“In the original version of MegaVault, users can withdraw from MegaVault at any time after saving, although users may experience slippage depending on MegaVault status and location, as well as market conditions.”

However, the team added that withdrawals may be subject to restrictions such as lock-in periods for future megavolt frequencies. This can be applied to new market listings, ensuring that the markets are liquid.

dYdX says the feature is still under development and will be released in the next few months.

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