Key Points:
- dYdX v6 upgrade is now completed with new features like a Market Mapper, revenue-sharing mechanisms, and personalized vault parameters.
- dYdX is reportedly in talks to sell some of its derivatives trading software v3 to cryptocurrency market makers.
Decentralized derivatives exchange dYdX has successfully completed the dYdX v6 upgrade that introduces a number of new features aimed at improving functionality and enhancing user experience.
Read more: DYdX Trading Software Is Currently Under Negotiations While V3 Platform Still Works Stably
dYdX v6 Upgrade Goes Live with Improved Trading Features
The dYdX v6 upgrade includes a market mapper, revenue-sharing mechanisms, timestamp-based random numbers, and customized insurance vault parameters.
Among the key additions is an integration module developed by the Skip team called Market Mapper. It will automatically add new markets to a dynamic map for users and provide them with effective trading based on current conditions.
The metadata for existing markets will be further updated by the Market Mapper when conditions change. A governance-controlled revenue-sharing mechanism has also been implemented, where the revenue is shared with the Market Mappers, and the share of trading fees from the new markets is divided over a period specified by each market.
Another aspect included in the dYdX v6 upgrade is a type of transaction validation- a timestamp nonce. So far, the feature has ensured that as a user, one can validate their transactions either through a timestamp or a sequence number, increasing flexibility in the way of transaction processing. Besides, dYdX has developed an improved vault system, allowing each vault to obtain its own parameters.
dYdX in Talks to Sell Derivatives Trading Software
Besides those, dYdX reportedly is in talks to sell part of its derivatives trading software v3. Behind the v3 platform, dYdX Trading reportedly is in deal talks with crypto market makers Wintermute Trading and Selini Capital. Wintermute is a UK-based firm specializing in algorithmic trading of digital assets. Selini Capital is an alternative investment manager focusing on the digital asset class.
dYdX also plans to launch perpetual futures contracts on its prediction market to attract more users to DeFi. The transition to a prediction market makes part of an upcoming “dYdX Unlimited” upgrade scheduled for sometime later this year.
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Source: Coincu
