Following a recent community vote, the dYdX protocol has officially launched version 5.0.0, which brings with it a host of new features such as isolated margin, isolated markets, and integration with Raydium Markets.
Isolated margin marks a departure from the traditional collateralized pools model by allowing traders to allocate collateral to specific trades, rather than exposing those funds to price fluctuations across multiple trades. Charles d’Haussy, CEO of the dYdX Foundation, emphasized the advantages of segregating collateral and ensuring that each pool has its own dedicated insurance. In a statement to Cointelegraph, he noted that “Isolated margin gives traders the ability to trade any market as an isolated position.”
The protocol also unveiled the incorporation of live price feeds from decentralized exchanges through the “Slinky” oracle, as well as support for Raydium Markets, an automated market maker on the Solana blockchain.
In addition, traders on dYdX now have the opportunity to engage with Solana’s vibrant memecoin ecosystem, with a quick listing process of as little as four days pending a governance vote.
Solana’s memecoin craze has led to a surge in new token listings and the emergence of celebrity memecoins, both genuine and fraudulent. For instance, Australian rapper Iggy Azalea launched her own memecoin, MOTHER, in response to the fraudulent listing of the unrelated IGGY token. Social media influencer Andrew Tate followed suit by introducing his own Solana-based memecoin, DADDY, sparking a playful rivalry between the two meme tokens and even inspiring a piece of digital art by Beeple.
Allegations of insider activity have marred the launches of both DADDY and MOTHER, with reports indicating that 30% and 20% of the token supplies, respectively, were purchased by insiders before the public release of the memecoins.