DYDX, V4 Public Testnet 2 Soars; Launches NFT Collection Beyond EigenLayer Boundaries

DYDX (DYDX) is standing out with the success of its V4 Public Testnet 2 deployment recently. Operating on the Layer 2 ZK-Rollup technology developed by Starkware, DYDX functions as a decentralized crypto derivatives exchange. This new version further expands its capabilities to offer advanced products like margin trading and perpetual options. Particularly, it sets itself apart from other decentralized exchanges by offering innovative products such as leveraged tokens.

Another notable development accompanying the launch of DYDX V4 is the more comprehensive activation of the second public test network of dYdX Chain. This update includes over 30 new markets, the introduction of rewards and incentives, the ability to pay and view trading fees, and significant enhancements to support dynamic margin requirements. Additionally, improvements like spam reduction, order book enhancements, and increased oracle accuracy were implemented with this update.

EigenLayer has experienced a remarkable surge as well. The restaking protocol garnered significant interest by raising deposit limits for liquid staking tokens (LST) to 100,000. Crossing this threshold locked assets worth approximately 240 million dollars. EigenLayer also initiated Eigen Worlds, a special NFT collection for community members. This collection allows community members to engrave their names and emblems. Simultaneously, Stader Labs is working on a liquid restructured token (LRT) for DeFi users. The fully operational state of EigenLayer’s three-sided marketplace is expected in the near future.

Market Update and Cryptocurrencies

In today’s financial markets, the SPX index gained 1.10%. Global bond yields, on the other hand, experienced a decrease due to speculation that the Fed and ECB might pause the pace of interest rate hikes amid weak economic news from the US and Europe.

The cryptocurrency market is generally showing positive performance. In the last 24 hours, Bitcoin increased by 2.92%, and Ethereum gained 3.30% in value.

Keep following these significant developments. At Bybit News Center, we will continue to provide you with the most up-to-date information.

This content is for informational purposes only and is not investment advice.