dYdX

The guest list for the dYdX v-day party tonight is now closed. Doors open at 10 for all the attendees to have a great time!

dYdX Chain has reached $4.2B in volume with approximately 300 new traders. The largest markets under ETH, BTC, and SOL are LINK, AVAX, and FIL.

dYdX has observed an increase in accounts or projects claiming to be associated with dYdX. Users are advised to be cautious and verify the authenticity before engaging with them.

The second season of dYdX Chain Launch Incentives, organized by Chaos Labs, has started. Join the dYdX Foundation and Chaos Labs tomorrow to find out how you can earn rewards.

dYdX is partnering with Kado to bring direct fiat onboarding to dYdX Chain. Traders in over 150 countries can now buy USDC in under 5 minutes using their debit/credit card or bank transfer. Kado eliminates the need for a centralized middle man, allowing users to buy and cash out directly from their wallet. This integration was made possible by Noble and Squid, which introduced a native mint and burn method for Cosmos USDC and enabled cross-chain onboarding.

dYdX Chain has become the largest decentralized exchange (DEX) in the world by trading volume, reaching over $930 million in 24-hour trading volume. However, dYdX products are currently unavailable to US/restricted persons. Furthermore, it should be noted that dYdX doesn't operate or control dYdX Chain infrastructure, which is owned and operated by the @dydx_ops_subdao. The @dydx_ops_subdao is an independent third-party and is not affiliated with dYdX.

The first season of dYdX Chain Launch Incentives is coming to an end and Season 2 starts today. Season 2 introduces tiers and performance-based rewards, providing opportunities for traders and market makers to earn rewards within each tier. The season will last for 6-8 weeks, with competitors in each tier competing against each other. Check out the full details for Season 1 and Season 2 on the dYdX website.

dYdX has successfully tracked down the individual responsible for the YFI incident on dYdX v3 and has made a report to law enforcement. An attacker opened leveraged long positions in YFI-USD, driving the price up over 200%. The attacker's positions were liquidated at a loss when YFI price dropped nearly 30%. The insurance fund was used to cover negative equity accounts. The attacker also targeted the SUSHI-USD market but did not affect the insurance fund. dYdX has implemented updates to risk controls to prevent similar situations in the future.

2023 was a remarkable year for dYdX, with a trading volume of $1 Trillion in v3 and the launch of dYdX Chain software. Learn more about their achievements and future plans for 2024.

Tomorrow, the CEO and Founder @antoniomjuliano will be joining the dYdX community for a live Ask Me Anything (AMA) session. Participants can drop their questions in the chat.