- dYdX boosts speed, usability, and trading features in a two-month roadmap.
- Faster deposits/withdrawals and advanced trading tools like TWAP orders introduced.
- dYdX token surges 8% as platform targets retail investors with mobile app upgrades.
The decentralized trading platform dYdX has released a new plan for the near future that defines its further development. Thus, during the next two months, the main priorities will be increasing speed, refining aspects such as usability, and adding new trading features.
One of the primary objectives is to design the high availability of a website during increased trading operations. These are where the platform expects to decrease the time spent on system downtimes, avoid old data, and increase the rate of data throughput to help operations function more efficiently. Moreover, dYdX will simplify its deposits and withdrawals, which means users can get the assets on the dYdX Chain within a minute, while it currently takes 18+ minutes.
The front-end interface will also require some modifications and will be redesigned to load faster and include more sophisticated trading options. These are: reduce-only limit orders, scale orders, and TWAP, which are widely used by competitors. Thus, the platform will provide bi-weekly development updates to ensure that the community is well-informed of the developments and changes that are to be made.
dYdX Targets Retail Market
However, when these near-term enhancements are implemented, the platform will release its strategic plans for the remainder of the year. Future considerations may include adding new digital assets, improving the price feed using oracles, and providing fully automated trading via platforms like Hummingbot and CCXT. There are also plans to integrate reward programs that are aimed at encouraging inputs from the user interface.
Placing its initial focus on serving sophisticated users, such as day traders, platform is now expanding toward the mass market. A new focused and integrated mobile app, which is new for the market, is available for use to capture as many consumers as possible. Possible upcoming developments, figuring out the connection with various wallets and third-party applications to reach more audiences.
The new version 8.0 of dYdX Chain was made possible through a winning vote by the community. This upgrade added permissioned keys, which provided the traders with more control over the account. It also removed the inactive markets to maintain the platform’s efficiency.
Markets are bullish on the news which has seen the DYDX token price increase by 7.77% over the last one day and is currently trading at $0.6011. The market cap also increased to $458.03 million to show confidence in the platform’s future.
These upgrades pave the way for how dYdX wants to be recognized in the decentralized trading platform. This platform has vowed to offer its services to both small and big investors and traders with unique solutions.
