Zug, Switzerland, June 6th, 2024 - On June 3rd, 2024, the dYdX community voted to upgrade the protocol to dYdX Chain software v5.0.0. The upgrade was completed on June 6, 2024. 

We are excited to highlight the dYdX Chain software upgrade v5.0.0, which includes isolated markets and margin, the Slinky price oracle provided by Skip, batch order cancellation, the initial version of liquidity vaults, risk and safety improvements, and performance enhancements. 

Learn more here: 

Notably, the dYdX Chain Software v5.0.0 adds several new features:

Isolated Markets and Isolated Margin

dYdX Chain software v5.0.0 introduces Isolated Markets, markets with segregated collateral pools, and dedicated insurance funds, allowing the protocol to safely support a greater range of markets with varying risk properties. Traders can now use Isolated Margin, confining collateral to specific positions for enhanced risk and collateral management. This marks a significant evolution from the current cross-margining system, where collateral requirements for one position are impacted by price movements in other positions. With Isolated Markets and Margin, hundreds of new markets could be created and traded on the dYdX Chain.

Expanding Market Universe with Slinky

The launch of Slinky, an enshrined oracle designed for high-performance DeFi, is an important step forward toward dYdX’s vision of permissionless markets. Slinky leverages dYdX Chain security to provide guaranteed per-block price updates with millisecond refresh rates. For the first time, Slinky enables real-time prices to be queried directly from decentralized exchanges on dYdX Chain. The initial protocol that validators will be able to query is Raydium. As a result, Raydium markets will be available to list on the dYdX Chain.

With the release of Slinky and Isolated Markets, the new market widget universe will expand from 20 to more than 800 potential listable markets, including popular Solana meme coins such as POPCAT, BODEN, and TREMP, which can be permissionlessly listed by any community member in just four days, subject to a successful governance vote. 

Android Support

In addition to the above, the dYdX Operations subDAO has announced the availability of dYdX Chain trading app on Android, making the platform accessible on all major mobile platforms, including iOS. This development, along with the introduction of Isolated Markets and Margin, empowers traders with greater control and flexibility to trade anytime, from anywhere.