dYdX

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.

The guest list has been closed and those with confirmed GA admission are advised to arrive early.

The dYdX community has recently seen the addition of several entities, each with its own top-level domain (TLD). Among these are .exchange, which is responsible for dYdX Trading Inc., core development, and hosting of version 3. Another entity, .foundation, represents the @dydxfoundation and focuses on governance and the creation of the DYDX token. Lastly, .trade, run by @dydx_ops_subdao, is responsible for hosting key infrastructure and frontends for the deployment of the dYdX Chain.

dYdX has released the dYdX Chain code and experienced over $9bn in trading volume on v3 in a 7-day period.

dYdX Chain code offers better executions, greater decentralization, and higher throughput for traders. Users can connect to the dYdX Chain using any wallet, including Metamask and Keplr. There are one-click solutions to transfer USDC onto the dYdX Chain. The source code has been audited and confirmed to have zero critical vulnerabilities. The v3 platform will continue running for now. No specific date has been given for the release of the dYdX Chain, but third parties can deploy the code. Users are advised to refer to the dYdX v4 Terms of Use.

The dYdX Chain has been released and open sourced. To stay updated on the next steps, register for the Townhall tomorrow at 9 AM ET.

The dYdX Chain has been launched, and CEO Antonio Juliano will be appearing on Bloomberg TV today to discuss the new initiative.