January 31, 2024

New Market Proposals on dYdX Chain

dYdX
New Market Proposals on dYdX Chain

You can easily propose new market listings on dYdX Chain! We maintain an open sourced list of markets and parameters likely to be compatible with optimal technical performance of the dYdX v4 software (the “dYdX Chain”).

How Do I Propose A New Market?

After navigating to the markets tab on dYdX Chain’s interface, you may click on the “Add New Markets” button. Thereafter you will be prompted as follows:

  1. Select a market: Search or choose from a list of markets you’d like to add. dYdX Trading maintains an open sourced list of market parameters. For more information on methodologies and how the compatibility of markets with the software is determined, head here.
  2. Confirm details: Once a market is selected, the Reference Price, Oracles, and Liquidity Tier will be populated.
  3. Propose new market: Sign a transaction that creates a proposal to add the new asset to dYdX Chain!

And it’s that simple! You can find more details and documentation on certain market parameters, inputs, oracles, and much more here. Please also note that a balance of the applicable governance tokens is required to initiate the market listing proposal.

See below for a sample of what it may look like to add a new market.

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FAQs

What happens to the applicable governance tokens after sending a proposal?

Governance tokens will become locked once the market proposal is sent for a governance vote. Tokens will then be returned to your wallet after the vote is completed! In the event of slashing (governance results in a vote of “no with veto”), tokens would not be returned.

Can I adjust any market parameters other than the liquidity tier?

At the moment, the liquidity tier is the only market parameter that can be adjusted through this widget. However, by following the procedure documented here, parameters can be customized. We suggest reading through these guidelines for proposing a new market for those interested in submitting a more customized market listing.

How are liquidity tiers chosen?

The liquidity tiers have been defined according to the following conditions (please note that these can be updated through governance in the future):

  • Large Cap: BTC/ETH
  • Mid-Cap: Markets with at least 8 robust oracle sources with liquidity >= 50K on both sides and 30d daily spot trading volume >= $100M
  • Long-tail: All others

How are markets determined to be compatible?

dYdX Trading maintains an open sourced list of market parameters. After assessing public data regarding market depth, volume, and number of oracles for exchange listings, a compatibility rating is then assigned to assets likely to be compatible with optimal technical performance of dYdX Chain. For more information on methodologies and how markets are assessed for software compatibility, head here.

Do I need to use this feature to propose a new market?

While this widget is a way of proposing a new market, it is not the only way to do so. By following the procedure documented here, a more customized market listing can be proposed. We suggest reading through these guidelines for proposing a new market for those interested in submitting a more customized market listing.

What markets should be added?

Users of the dYdX Chain software decide what markets should be added. Users are encouraged to consider the information about likely software compatibility provided here. Users are also encouraged to weigh other factors that may be relevant to listing decisions, such as the trading volume, liquidity, and market cap of the relevant crypto-asset or related derivatives; its development history and track record; technical robustness and security, susceptibility to fraud, manipulation, rug pulls or other inappropriate practices, and compliance with the laws of relevant jurisdictions.

Legitimacy and Disclaimer

Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets.

dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as in other restricted jurisdictions. The dYdX Foundation does not operate or participate in the operation of any component of the dYdX Chain’s infrastructure.

The dYdX Foundation’s purpose is to support the current implementation and any future implementations of the dYdX protocol and to foster community-driven growth in the dYdX ecosystem.

The dYdX Chain software is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain and/or its software or related components be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever. The dYdX Foundation does not make any representations, warranties or covenants in connection with the dYdX Chain software (or any implementations and/or components thereof), including (without limitation) with regard to their technical properties or performance, as well as their actual or potential usefulness or suitability for any particular purpose, and users agree to rely on the dYdX Chain software (or any implementations and/or components thereof) “AS IS, WHERE IS”.

Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone.  Users should conduct their own research and due diligence before making any decisions. The dYdX Foundation may alter or update any information in this post in the future at its sole discretion and assumes no obligation to publicly disclose any such change. This post is solely based on the information available to the dYdX Foundation at the time it was published and should only be read and taken into consideration at the time it was published and on the basis of the circumstances that surrounded it. The dYdX Foundation makes no guarantees of future performance and is under no obligation to undertake any of the activities contemplated herein.

dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as in other restricted jurisdictions. The dYdX Foundation does not operate or participate in the operation of any component of the dYdX Chain's infrastructure.

Nothing in this website should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act in any way by anyone. You should perform your own research and due diligence before engaging in any activity involving crypto-assets due to high volatility and risks of loss.

Depositing into the MegaVault carries risks. Do your own research and make sure to understand the risks before depositing funds. MegaVault returns are not guaranteed and may fluctuate over time depending on multiple factors. MegaVault returns may be negative and you may lose your entire investment.

The dYdX Foundation does not operate or has control over the MegaVault and has not been involved in the development, deployment and operation of  any component of the dYdX Unlimited software (including the MegaVault).

Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets.

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