dYdX to Integrate Skip Protocol’s Market Map in Upcoming Chain Upgrade

The
dYdX
Chain
is
set
to
receive
a
significant
upgrade
later
this
month
with
the
integration
of
Skip
Protocol’s
Market
Map,
according
to

dYdX.
This
enhancement
aims
to
expand
market
parameters
and
ensure
the
safety
of
current
markets,
laying
the
groundwork
for
a
broader
release
in
the
fall.

A
Brief
History
of
dYdX
and
Skip
Connect

In
a
recent
upgrade,
the
dYdX
Chain
software
integrated
with
Skip
Connect,
formerly
known
as
Slinky.
Developed
by
Skip
Protocol,
Skip
Connect
acts
as
a
price
oracle
for
dYdX
Chain
markets,
allowing
the
chain
to
expand
to
over
800
new
potential
markets,
including
Solana
assets.

Introducing
the
Market
Map

Building
on
the
success
of
Skip
Connect,
Skip
Protocol
has
developed
the
Market
Map.
This
addition
allows
operators
to
actively
maintain
and
update
market
parameters,
increasing
the
number
of
potential
new
markets
while
ensuring
the
safety
of
existing
ones.
The
Market
Map
aims
to
bring
the
vision
of
unlimited
permissionless
markets
to
life.

Implementing
the
Market
Map

The
integration
of
the
Market
Map
into
a
live
deployment
of
the
dYdX
Chain
will
require
a
governance
vote
by
token
holders.
If
the
community
votes
in
favor,
they
will
also
appoint
a ‘Market
Mapper’
to
manage
the
Market
Map.
The
Market
Mapper
will
be
responsible
for
updating
liquidity,
reference
prices,
and
metadata
of
existing
markets,
as
well
as
preloading
and
preconfiguring
new
markets
safely
on
the
chain.
This
role,
although
centralized,
is
subject
to
governance
votes
and
can
be
removed
by
the
community
at
any
time.

The
Market
Mapper
will
also
have
a
revenue
share
functionality,
which
can
be
voted
upon
by
governance
to
ensure
fair
compensation
for
their
services.
This
step
is
crucial
for
maintaining
a
safe
and
efficient
market
environment.

dYdX
has
expressed
excitement
over
the
vibrant
community
that
continues
to
build
integrations,
enhancing
the
dYdX
Chain
software.
For
further
updates,
follow

dYdX
and

Skip
Protocol
on
Twitter.

Terms
and
Conditions:
The
information
provided
pertains
to
the
default
settings
of
the
dYdX
Chain
open-source
software
developed
by
dYdX
Trading
Inc.
The
described
features
are
under
development
and
may
change.
dYdX
does
not
deploy
or
operate
the
dYdX
Chain
software
for
public
use.
The
services
and
products
are
not
available
to
residents
or
entities
in
the
United
States
or
Canada.
The
content
is
not
financial,
legal,
tax,
or
investment
advice.
Users
should
conduct
independent
research
and
consult
professional
advisors
before
taking
any
action.

Image
source:
Shutterstock