Key Takeaways
- DYdX is introducing perpetual futures in prediction markets as part of its dYdX Unlimited upgrade.
- The initiative includes a master liquidity pool, MegaVault, to enhance market liquidity.
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dYdX, one he decentralized exchange plans to launch perpetual futures on prediction markets as part of efforts to distinguish itself from centralized trading platforms and attract more users to decentralized finance.
Charles d’Haussy, CEO of dYdX Foundation, revealed that they are working to allow users to place leveraged bets on binary event outcomes through perpetual futures contracts. According to d’Haussy, decentralized finance (DeFi) needs to offer unique products to differentiate from centralized platforms. The exec also claims that prediction markets could give DeFi a new opportunity to regain attention. This move into prediction markets is part of the upcoming dYdX Unlimited upgrade expected later this year.
dYdX Unlimited
The dYdX Unlimited upgrade will introduce several new features, including permissionless listing of markets and a master liquidity pool called MegaVault. Users will be able to propose listing any market on the dYdX chain, with the protocol actively maintaining price and market parameters. The community is already experimenting with a foreign exchange trading pair tied to the Turkish lira.
To facilitate liquidity for new markets, users launching them will deposit a governance-determined amount of USDC stablecoin into the MegaVault. This vault will…
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