TL;DR
- dYdX 2024: Financial Democratization: Leader in DeFi, dYdX announces plan to democratize access to financial opportunities.
- Innovation in DeFi: Focused on Permissionless Marketplaces, Efficient Commerce and UX Improvements.
- Drive towards Simplification: Target click-to-list marketplaces, business improvements and UX, reaffirming leadership in DeFi.
The dYdX platform, a leader in the field of Decentralized Finance (DeFi), has revealed its strategic development plan for the year 2024, focused on the democratization of access to financial opportunities.
Its mission is to build a world-class product experience in DeFi, highlighting the development of its open source software, dYdX Chain, as a crucial step towards achieving this goal.
dYdX’s main focus for this year is articulated around three key areas: Permissionless Marketplaces, Essential Commerce Improvements, and User Experience (UX) and Onboarding Updates.
1/ So, what’s next for dYdX? 👀
Well… a lot. We’ve got some big plans for 2024 including permissionless markets, enhanced UX, and core trading improvements.
Let’s take a look 👇 pic.twitter.com/Qz1FUpBllM
— dYdX (@dYdX) February 5, 2024
One of the company’s notable goals is to create building blocks that allow traders to list and trade any market instantly, without having to go through lengthy governance processes.
The vision is to make market creation as easy as clicking, as long as there is an oracle price for any asset on the internet.
This will include features such as the ability to list any market instantly, instant liquidity through LP Vaults, and expanded oracles for perpetual assets, with the ultimate goal of significantly increasing the number of markets available on protocols using the software.
Essential Improvements in dYdX Trading
dYdX Chain software offers a trading experience similar to that of centralized exchanges, allowing traders to maintain full custody of their funds.
In the first half of 2024, they will focus on improving the reliability and infrastructure of the exchange software, as well as adding trading features to execute trades quickly and accurately.
They also plan to support additional clients in languages such as C++, Rust and Go, looking to improve the overall efficiency of dYdX Chain and reduce latency.
To make the user experience more accessible, the company will focus on facilitating the onboarding process, increasing access and connectivity options.
This will include the integration of onboarding options from centralized exchanges (CEX) to reduce fees and time.
In addition, usability and presentation on the exchange platform will be improved, incorporating social elements, such as transparent blockchain-based trading profiles.
The company positions itself as a driving force in DeFi, with a clear focus on innovation and continuous improvement of its platform.
This ambitious 2024 plan reflects its commitment to financial democratization and creating an exceptional user experience in the DeFi space.
With the promise of more details as they get closer to implementing these improvements, dYdX demonstrates its leadership and key role in the evolution of the decentralized financial ecosystem.
