The next upgrade to dYdX Chain code is coming later this month! With a slew of backend improvements, this upgrade will set the foundation for our Fall release (stay tuned). Most important is the integration with Skip Protocol’s Market Map. Let’s dive into the details.
A Brief History of dYdX and Skip Connect
In the most recent Chain upgrade, dYdX Chain software integrated with Skip Connect (formerly Slinky)--software created by Skip Protocol. Skip Connect acts as a price oracle for dYdX Chain markets and allowed the Chain to expand to 800+ new potential markets including Solana assets.
Introducing the Market Map
Skip has since taken its work on Skip Connect one step further and created what they are calling the Market Map. The Market Map, which can be added to the Skip Connect deployment, allows for an operator to actively maintain and update market parameters to increase the number of potential new markets and ensure the safety of current markets.
Expanding the available markets will help bring the vision of Unlimited permissionless markets to life.
Implementing the Market Map
Adding the Market Map to a live deployment of dYdX Chain will require a governance vote by token holders. If the community decides to integrate the Market Map, the community will also vote to appoint an operator of the Market Map (Market Mapper).
Why does the Market Map need a Market Mapper?
The Market Map requires outside management of current and future pairs. The Market Mapper will constantly update liquidity, reference prices, and meta data of existing markets as well as preload and preconfigure new markets safely on the Chain in order for market listing to be permissionless and powered by users.
While the Market Mapper would be a centralized entity, they are voted upon by governance and can be removed at any time if the community sees fit. Market Mapper revenue share functionality has been created to compensate Market Mappers and can also be voted upon by governance.
We’re stoked to have such a vibrant community building integrations that make dYdX Chain software even better. Follow dYdX and Skip on Twitter to stay tuned for more information on the Market Map.
Legitimacy and Disclaimer
Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets.
dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as in other restricted jurisdictions. The dYdX Foundation does not operate or participate in the operation of any component of the dYdX Chain’s infrastructure.
The dYdX Foundation’s purpose is to support the current implementation and any future implementations of the dYdX protocol and to foster community-driven growth in the dYdX ecosystem.
The dYdX Chain software is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain and/or its software or related components be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever. The dYdX Foundation does not make any representations, warranties or covenants in connection with the dYdX Chain software (or any implementations and/or components thereof), including (without limitation) with regard to their technical properties or performance, as well as their actual or potential usefulness or suitability for any particular purpose, and users agree to rely on the dYdX Chain software (or any implementations and/or components thereof) “AS IS, WHERE IS”.
Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. Users should conduct their own research and due diligence before making any decisions. The dYdX Foundation may alter or update any information in this post in the future at its sole discretion and assumes no obligation to publicly disclose any such change. This post is solely based on the information available to the dYdX Foundation at the time it was published and should only be read and taken into consideration at the time it was published and on the basis of the circumstances that surrounded it. The dYdX Foundation makes no guarantees of future performance and is under no obligation to undertake any of the activities contemplated herein.
