dYdX

The dYdX community is voting on a proposal to extend the Launch Incentives Program for an additional three months, covering two trading seasons. The program, which aims to boost trading activity and expand the user base on the dYdX Chain, has been successful in generating more trading fees than its cost. The proposal suggests allocating an additional $10 million from the Community Treasury to fund the extension. The vote ends on April 28, 2024.

The dYdX Foundation has announced another stake delegation of 8,279,485 DYDX tokens to 25 dYdX Chain Validators. This move aims to further decentralize and secure the dYdX Chain network. The Foundation encourages users to read their blog for more details on this development.

dYdX, a decentralized exchange platform, has announced the deployment of a New Market Listing Widget, which has enabled the addition of 28 new markets to the dYdX Chain. This development aims to provide users with a more diverse range of trading options on the open exchange platform.

The dYdX decentralized exchange protocol allows traders to earn back up to 90% of trading fees in the form of DYDX tokens. The amount of DYDX earned is directly proportional to the trading volume contributed by each user's dYdX Chain address. This incentivizes increased trading activity on the platform.

The dYdX team recently discussed upcoming developments for the dYdX Chain, including plans to enable permissionless market listings. This would allow the platform to rapidly expand its offerings to potentially include 500 new markets in 2024. Further details were shared in a full interview between Antonio M Juliano of dYdX and 0xResearch.

The third season of the dYdX Chain Launch Incentive Program has concluded, with top traders set to receive a share of $5 million in rewards, subject to dYdX governance approval. Season 4 has now commenced and will run for the next 6-8 weeks. This is the final season of the dYdX Chain launch incentives, with an estimated $5 million in rewards to be distributed to qualified traders. New traders are eligible for a $100 bonus, while seasoned traders can earn rewards in line with previous seasons.

The recent dYdX Chain protocol software upgrade introduced several new features and enhancements. The x/authz module enables wallet address authorization for improved operational security and efficiency. Community-enabled slashing through a new governance module and MsgSlashValidator message type provides a robust measure against MEV abuses. The upgrade also included expedited proposals with shorter voting durations and higher tally thresholds. Other improvements include IBC withdrawal rate limiting, subaccount withdrawal gating, and governance-enabled slashing.

dYdX has announced a partnership with Privy.io to allow users to set up a dYdX wallet and account using just their email or social login credentials, without the need to memorize a seed phrase. Privy is a tool designed to simplify the onboarding process for new users to decentralized finance (DeFi) platforms. The partnership aims to bridge the gap between crypto-curious individuals and experienced traders by providing a more user-friendly onboarding experience on the dYdX Chain.

The dYdX Chain, a decentralized exchange platform, has resumed operations and is producing blocks again after an unspecified period of downtime. The platform is known for its open and powerful trading capabilities.

The latest update for Trading Season 3 reports an average daily trading volume of $800 million, with open interest remaining steady at $140 million. The platform welcomed 369 new traders, bringing the total number of traders to 5,716. The leader of the Platinum League has achieved a profit and loss of over $228,000.