Cryptocurrencies

Following a community vote earlier this month, version 5.0.0 of the protocol was released.

Following a community vote earlier this month, version 5.0.0 of the dYdX protocol was released, introducing several new features including isolated margin, isolated markets, and support for Raydium markets.

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

Charles Dawsey, CEO of the dYdX Foundation, highlighted the benefits of separating collateral and ensuring that each collateral pool has dedicated insurance. In a statement to Cointelegraph, the CEO explained that “isolated margin provides traders with the ability to trade any market as an isolated position.” The executive continues:

“Traders now have the ability to lock guarantees on a specific position and manually adjust their guarantees for that specific position. This enhancement creates more options for traders, protects the stability of the protocol and enables the listing of over 800 new regulated markets. “

The protocol also announced the introduction of live price feeds from decentralized exchanges via the “Slinky” oracle and support for Raydium Markets, an automated market maker based on Solana.

RELATED: Antonio Giuliano steps down as CEO of dYdX.

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

Solana memecoin madness

The Solana memecoin craze has sparked hundreds of thousands of new token listings over the past few months and spawned a torrent of popular memecoins, both genuine and fake.

In May, Australian rapper Iggy Azalea launched her own memecoin, MOTHER, following the fraudulent listing of the IGGY token – a project unrelated to the rapper.

As part of the launch of MOTHER, social media influencer Andrew Tate launched his own Solana-based memecoin, DADDY, sparking an online competition between the two meme icons and even inspiring a piece by digital artist Beeple.

Beeple artwork depicting the DADDY and MOTHER coins. Source: Beeple.

Allegations of insider activities weigh on both shows

According to a report from Bubblemaps, the launch of DADDY and MOTHER saw significant internal activity, with 30% of the supply and 20% of the supply respectively purchased by insiders ahead of the public launch of the meme tokens.

Magazine: Creating “organic” generative art from automated algorithms: Emily Shih, NFT creator.

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