Decentralized perpetual contracts trading platform dYdX has updated its near-term roadmap which details improvements focused on enhancing speed and user experience as well as rollout of new trading features.
According to its near-term (next two months) roadmap update, dYdX (DYDX) plans to improve its website stability during periods of high trading activity by reducing downtime, stale data, and throughput constraints. Additionally, the platform will make both the deposit and withdrawal process easier and faster, enabling users to access their funds on the dYdX Chain in less than a minute, compared to the typical18+ minute wait. The website’s front-end interface will also be revamped to make it load faster new features offered by competitors, such as reduce-only limit orders, scale orders, and TWAP orders. Finally, the platform will release bi-weekly development and deployment notes to keep the community updated on the progress.
Once these updates are implemented, dYdX plans to release a detailed roadmap for the rest of the year. They have laid out a sneak peak of potential developments the longer-term roadmap will include. These include expanding digital asset offerings (including pre-launch assets and real-world assets), integrating oracles to provide better price feeds, integrating with Ethereum, facilitating automated trading through tools like Hummingbot and CCXT, as well as introducing reward programs.
You might also like: The dYdX community approves revenue sharing proposal
Currently, dYdX primarily caters to professional traders who need deep liquidity, algorithmic trading support, and leveraged trading of perpetual contracts. However, in their roadmap update announcement, the platform said that it wants to attract more retail investors. To this end, the company recently released a new streamlined mobile app. Going forward, it plans to integrate with major wallets and other third-party apps to make dYdX available to more users.
The roadmap update comes on the heels of the recent dYdX Chain upgrade to version 8.0, which was decided in a community vote. The upgrade introduced “permissioned keys” to give traders more control over their accounts and enabled the removal of inactive markets to keep the platform streamlined.
Buoyed by the latest roadmap update , the DYDX token, which can be staked and used for governance, is trading at $0.59, up by 8% in the last 24 hours, with the 24-hour trading volume of $22,762,737.
You might also like: dYdX Chain v8.0 upgrade vote goes live
