Waking up early to browse tweets, didn’t expect @KaitoAI to still have a few points increase, was shocked, others with just a few words get tens of points, what is the weight? It's all nonsense.
Still, it's better to look at the project itself. First, let's check out my old friend @dYdX, dYdX v5.0: The strategic ambition behind a technological reconstruction!! gdYdX!! gdYdX!! 🔥
dYdX v5.0: A comprehensive upgrade about 'ambition'
As an old user who benefited from dydx, I believe everyone has noticed recently—the previously silent dYdX released a significant update v5.0 on June 12. It feels like something big is coming!!
dYdX's update can be said to be a full-chain reconstruction. From risk management to the underlying matching engine, from asset expansion to liquidity solutions, every part has undergone a surgical operation. Core upgrades include:
1/ Redesign of the risk management system
2/ Intelligent liquidity mechanism
3/ Speeding up the oracle system
4/ More flexible margin strategy
5/ Overall improvement of system performance
dYdX clearly wants to shed past burdens and redefine its voice in the on-chain derivatives track.
Independent market mechanism: each market comes with a safety net
v5.0 introduced the so-called Isolated Markets, meaning: each market has its own collateral pool and insurance fund. If one market collapses, it won't affect the entire system. After decoupling the architecture, it can expand up to 800+ new markets, which is equivalent to evolving from a 'funnel' to 'parallel tracks' for those who often play multi-asset strategies, maximizing safety and flexibility.
Independent margin, to be honest, how many on-chain traders' hearts have been hurt by the term 'full liquidation'? The 'Isolated Margin' mechanism in v5.0 gives us a breather:
1/ Each position can allocate margin separately
2/ No longer need to put all funds at risk for one position
3/ Free to strategize, with more refined risk control.
This is dYdX's respect for traders and sincerity towards participants in complex strategies.
dYdX also launched the LP Vaults module, breaking the traditional AMM/market making model's old setting:
1/ Users only need to deposit USDC, and the system will automatically market-make on both sides
2/ No need for bots, no need to monitor the market
3/ Non-custodial, decentralized, maximizing security
Oracle system upgrade: speed revolution + multi-chain integration is another hidden highlight. v5.0 introduced Slinky technology: decoupling oracle price updates from consensus, achieving ultra-fast data response, integrating with Raydium, assets on Solana can connect to the dYdX oracle system, significantly expanding market scope and cross-chain asset support.
Other features have also been upgraded: there’s a one-click bulk cancellation for up to 100 orders, efficiency skyrockets, parallel signing verification, faster matching, lower latency, introducing 'soft limits' for large positions, dynamically adjusting margin ratios, full nodes now support gRPC real-time data streams, benefiting quantitative and bot trading.
dYdX is not just updating the UI; it is the evolution of the entire protocol.
Looking forward to dYdX's 'return of the king' journey, officially set in motion
Over the past year, dYdX has faced a decline in users and funds due to the migration from StarkEx to Cosmos, coupled with the overall market slump, leading to a period of 'marginalization'. However, the launch of v5.0 has shown me dYdX's clear direction:
1/ Safer (risk isolation) 2/ More powerful (explosive scalability) 3/ More open (compatible with multi-chain assets) 4/ Simpler (lower threshold for passive LP)
This is not just an update for dYdX, but more like a declaration to the entire on-chain derivatives track. Personally, I am most interested in the LP Vaults and independent market mechanism; these two aspects not only enhance participation experience but also significantly lower the liquidity participation threshold, truly heading towards 'composable finance'.
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@OpenledgerHQ look my eyes!!
Daily check-ins continue, test net ongoing, now opening activities and earning points for the $OPN airdrop!! Perseverance is victory!!
OpenLedger's Octo Puzzle Blitz game is very interesting; I've seen many Americans drawing words:
Found COMMUNITY
LIQUIDITY
MONETIZE
Interesting haha
Currently, seeing everyone's gains is also enviable, although I’m frustrated with a belly full of points not increasing, just going with the flow. Relying on various project parties for airdrops to enjoy some pork trotters for entertainment can also pass the time, waiting for my $eth to reach 50000! I'll come to be your market maker!!! Hahaha!
