dYdX Updates Near-Term Roadmap

Decentralized perpetual contracts trading platform dYdX has updated its near-term roadmap focusing on speed, user experience, and new trading features.

According to the update, dYdX plans to:

• Improve website stability during high trading activity, mitigating downtime, stale data, and throughput constraints.
• Enhance the deposit and withdrawal processes, allowing users to access funds on the dYdX Chain in under a minute, compared to the typical 18+ minute wait.
• Revamp the website’s front-end interface to improve loading speeds and introduce competitive features such as reduce-only limit orders, scale orders, and TWAP orders.
• Release bi-weekly development and deployment notes to keep the community informed on progress.

Once these updates are implemented, dYdX will release a detailed roadmap for the remainder of the year, hinting at potential developments including:

• Expansion of digital asset offerings (including pre-launch assets and real-world assets).
• Integration of oracles for improved price feeds.
• Direct integration with Ethereum and automated trading tools like Hummingbot and CCXT.
• Introduction of reward programs.

Currently, dYdX serves professional traders needing deep liquidity and algorithmic trading support, but aims to attract more retail investors with a newly streamlined mobile app. Plans for integration with major wallets and third-party apps will broaden accessibility.

This roadmap update follows the recent dYdX Chain upgrade to version 8.0, passed through community vote, introducing ‘permissioned keys’ for better account control and the removal of inactive markets for streamlined operations.

Buoyed by this update, the DYDX token, which can be staked and used for governance, is now trading at $0.59, up 8% in the last 24 hours, with a trading volume of $22,762,737.