After a community vote earlier this month, dYdX protocol version 5.0.0 was released, introducing several new features including support for Isolated Margin, Isolated Markets, and Raydium Markets.
Isolated margin differs from the traditional collateral pool model by allowing traders to allocate collateral to specific transactions rather than exposing funds to price fluctuations across multiple transactions.
Charles d’Haussy, CEO of the dYdX Foundation, highlighted the benefits of segregating collateral and ensuring each collateral pool has dedicated insurance. “Isolated Margin introduces the option for traders to trade in isolated positions on any market,” the CEO explained in his statement to Cointelegraph. The executive continued:
“Traders can now limit collateral to specific positions and manually adjust collateral for those positions. This improvement provides traders with more options, protects the stability of the protocol, and introduces a list of over 800 new markets subject to governance. ”
The protocol also announced the introduction of real-time price feeds from decentralized exchanges via the “Slinky” oracle and support for Raydium Markets, a Solana-based automated market maker.
Related: Antonio Juliano steps down as CEO of dYdX.
Now traders on dYdX have the opportunity to participate in Solana’s robust memecoin ecosystem through a permissionless listing in just four days, while awaiting a governance vote.
Solana memecoin craze
Solana’s memecoin craze has sparked the listing of hundreds of thousands of new tokens over the past few months and sparked a torrent of real and fake memecoins from celebrities.
Last May, Australian rapper Iggy Azalea launched her own memecoin, MOTHER, following the fraudulent listing of the IGGY token. This project has nothing to do with the rapper.
To coincide with the launch of MOTHER, social media influencer Andrew Tate launched his Solana-based memecoin, DADDY, sparking an online competition between the two meme tokens and even inspiring artwork by digital artist Beeple.
Both products have suffered due to allegations of insider activity.
According to a report by Bubblemaps, the launches of both DADDY and MOTHER featured a significant amount of insider activity, with 30% and 20% of the supply, respectively, being purchased by insiders prior to the public launch of the meme tokens.
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