Following a recent community vote, the dYdX protocol has officially launched version 5.0.0, bringing with it a range of new features such as isolated margin, isolated markets, and compatibility with Raydium Markets.
Isolated margin represents a departure from the traditional collateralized pools model by 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 pool has dedicated insurance. In a statement to Cointelegraph, he explained, “Isolated margin gives traders the ability to trade any market as an isolated position.”
The protocol has also introduced live price feeds from decentralized exchanges through the “Slinky” oracle and added support for Raydium Markets, an automated market maker built on the Solana blockchain.
On dYdX, traders now have the opportunity to engage with Solana’s vibrant memecoin ecosystem, with listings being possible in as little as four days pending a governance vote.
The memecoin trend on Solana 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 called MOTHER, in response to the fake listing of the IGGY token. Social media influencer Andrew Tate followed suit by launching his own Solana-based memecoin, DADDY, sparking a playful rivalry between the two meme tokens and inspiring artwork from digital artist Beeple.
Allegations of insider activity have plagued both MOTHER and DADDY, with reports indicating that 30% and 20% of the token supplies, respectively, were purchased by insiders before the public launch of the tokens.