dYdX

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.

On December 11th at 14:00 UTC, dYdX will be turning down exchange services on Goerli and launching the v3 Testnet on Sepolia. The Testnet will have all the same features as Goerli.

dYdX has open-sourced its design system, allowing designers to access and use it for their projects. The design system includes branding assets, typography, colors, and a component library. Traders are encouraged to be cautious when connecting to any dYdX branded interface.

dYdX community members are invited to submit their questions for a live Q&A session with the CEO & Founder, Antonio Juliano, next week.

The dYdX Chain has achieved a significant milestone by surpassing $30 million in daily trading volume. This impressive feat highlights the growing popularity and adoption of the platform.