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dYdX Unlimited is set to redefine DeFi trading this November

Source Cryptopolitan

The crypto trading platform dYdX is set to unveil dYdX Unlimited this November, an upgrade it expects to transform decentralized finance (DeFi). The upcoming update introduces Instant Market Listings, allowing users to list and trade perpetual futures on nearly any asset without the need for governance approval or third-party intermediaries.

dYdX Unlimited enables Instant Market Listings for effortless trading

As part of dYdX Unlimited’s strategy, users are required to deposit 10,000 USDC into the central liquidity pool called MegaVault to add a market. This deposit unlocks immediate liquidity for new markets. The funds are locked for 30 days before becoming freely withdrawable.

MegaVault supports individual markets while also enhancing general protocol liquidity, enabling contributors to obtain yield while enabling effective trading.

MegaVault plays a dual role, supporting individual markets while bolstering overall protocol liquidity. Contributors can earn yield through the pool, ensuring robust liquidity for seamless trading operations.

The vault will allow users to deposit liquidity and receive a portion of its revenue. The exchange highlighted that depositors will also receive a share of protocol revenue, which its governance will determine.

According to DYdX, this method will produce a high annual percentage rate (APR) for its investors. Additionally, MegaVault depositors will not have to choose what markets to provide liquidity for, as the funds will automatically market-make across various markets.

dYdX Unlimited revolutionizes DeFi with enhanced user rewards

dYdX Unlimited offers seamless ways to create new markets, unlike traditional decentralized and centralized exchanges; thus, users will enjoy a seamless trading experience.

Beyond enhanced functionality, dYdX Unlimited introduces a redesigned Trading Rewards program to encourage user participation and market growth actively. The platform’s new Affiliates Program also fosters expansion by building partnerships with community members and influencers, driving collaboration and network growth.

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Disclaimer: For information purposes only. Past performance is not indicative of future results.

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