dYdX

Starting now, users can earn rewards on dYdX through the dYdX Foundation and the dYdX Operations SubDAO.

dYdX announces that the Circle Credit Transform Protocol (CCTP) is now available on Noble.xyz. Traders can now obtain Cosmos native USDC and start trading on dYdX Chain. Note that DOS operates Noble.xyz and is separate from dYdX, therefore dYdX is not liable for their actions.

dYdX has launched MEV social prevention via Skip and is now introducing further MEV prevention through Cosmos ABCI++. This solution allows for collaborative block building and introduces Frequent Batch Auctions (FBA) to minimize transaction sequence impact. Validators vote on order inclusion before a block is produced, an auction is run with majority-backed orders, and validators verify the deterministic results. The benefits include reduced proposer influence, more equitable latency rates, and increased transparency. dYdX aims to create a fair trading landscape and is excited to prototype this architecture on the dYdX Chain.

The dYdX team had a great time bonding and relaxing during their offsite in Cancun. Now, they are ready to get back to work.

dYdX has announced the ban on highly profitable trading strategies on its platform.

dYdX has announced an immediate measure of increasing initial margin requirements for less liquid markets. The affected markets include EOS, ZRX, AAVE, ALGO, ICP, XMR, XTZ, ZEC, SUSHI, RUNE, SNX, ENJ, 1INCH, CELO, YFI, UMA, and SUSHI. This is seen as an important first step and dYdX will continue to monitor the situation.

Around $9m from the dYdX v3 insurance fund were utilized to address liquidation gaps in the YFI market. The v3 insurance fund still has $13.5m remaining. User funds were not impacted and the team is currently investigating the incident.

dYdX has issued a warning to its community about a rise in scams impersonating their brand and ecosystem. Users are advised to be vigilant and cautious to protect themselves from phishing attempts.

The dYdX Chain will soon support native USDC through the Cross-chain Transfer Protocol (CCTP). CCTP allows secure transfer of USDC between supported blockchains without relying on bridging. Users will be able to transfer USDC from one chain to another, burning it on the source chain and receiving it on the destination chain. This method reduces bridging risk for the ecosystem. The CCTP integration will be available starting November 28th.

dYdX, a decentralized exchange, had an astonishing volume of over $2.8 billion yesterday. This comes as part of their impressive performance throughout the month of Uptober, where they achieved a total volume of $26.5 billion in the past 31 days.