Following a recent community vote, the dYdX protocol has rolled out version 5.0.0, bringing in a range of new features such as isolated margin, isolated markets, and integration with Raydium Markets.
Isolated margin represents a departure from the conventional model of collateralized pools, allowing traders to allocate collateral to specific trades rather than exposing their funds to price fluctuations across multiple trades. Charles d’Haussy, the CEO of the dYdX Foundation, emphasized the advantages of separating collateral and ensuring that each collateral pool is backed by dedicated insurance. In a statement to Cointelegraph, the CEO elaborated, “Isolated margin gives traders the flexibility to trade any market as an isolated position.”
Moreover, the protocol has introduced live price feeds from decentralized exchanges through the “Slinky” oracle and extended support for Raydium Markets, a Solana-based automated market maker.
In other news, traders on dYdX now have the opportunity to engage in Solana’s vibrant memecoin ecosystem, with the possibility of a permissionless listing within just four days, pending a governance vote.
The rise of Solana memecoins has led to a surge in new token listings and the emergence of numerous celebrity memecoins, both legitimate and fraudulent. For instance, Australian rapper Iggy Azalea launched her own memecoin called MOTHER, following the dubious listing of the IGGY token, which had no affiliation with the artist.
In a similar vein, social media influencer Andrew Tate introduced his own Solana-based memecoin, DADDY, sparking a playful rivalry between the two meme tokens and even inspiring a piece from digital artist Beeple.
Allegations of insider activity have cast a shadow over both offerings, with reports indicating that 30% of the DADDY supply and 20% of the MOTHER supply were acquired by insiders prior to the public launch of the tokens.