dYdX gets isolated margin, isolated markets, and Raydium support in latest upgrade

The NFT Unicorn 366e198d-60bb-4761-a1b3-a726279d8400 dYdX gets isolated margin, isolated markets, and Raydium support in latest upgrade Crypto News

After a community vote earlier this month, version 5.0.0 of the dYdX protocol is live, introducing several new features, including isolated margin, isolated markets, and support for Raydium Markets.

Isolated margin breaks with the traditional model of collateralized pools by enabling traders to assign collateral to a specific trade rather than exposing those funds to price movements across several trades.

Charles d’Haussy, CEO of the dYdX Foundation, highlighted the benefits of segregating collateral and ensuring that each collateral pool has dedicated insurance. In a statement to Cointelegraph, the CEO explained, “Isolated margin introduces the option for traders to trade any market as an isolated position.” The executive continued:

“Traders now have the ability to confine collateral to a specific position, and manually adjust their collateral for that given position. This enhancement creates more options for traders, safeguards the protocol’s stability, and allows the listing of over 800 new markets subject to governance.”

The protocol also announced the introduction of live 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.

Traders on dYdX now have the opportunity to participate in Solana’s robust memecoin ecosystem, with a permissionless listing in as little as four days, pending a governance vote.

The Solana memecoin craze

Solana’s memecoin craze has ignited hundreds of thousands of new token listings over the last several months and spurred on a torrent of celebrity memecoins, both authentic and fake.

In May, Australian rapper Iggy Azalea launched her own memecoin, MOTHER, following the fraudulent listing of the IGGY token — a project that had no connection to the rapper.

Playing off the launch of MOTHER, social media influencer Andrew Tate launched his own Solana-based memecoin, DADDY, spawning an online competition between the two meme tokens and even inspired a piece from digital artist Beeple.

Beeple’s art piece depicting the DADDY and MOTHER memecoins. Source: Beeple.

Insider activity allegations plague both offerings

According to a report from Bubblemaps, both the launch of DADDY and MOTHER featured significant amounts of insider activity, with 30% of the supply and 20% of the supply, respectively, purchased by insiders before the public launch of the meme tokens.

Magazine: Creating ‘organic’ generative art from robotic algorithms: Emily Xie, NFT Creator.

Source: Cointelegraph