Ivo Crnkovic-Rubsamen, the new CEO of dYdX, recently published a detailed vision of dYdX Chain, which is to create a permissionless, sovereign-architected and social platform for trading anything.
-Trade anything: The dYdX Chain software will support derivatives of any asset, and users will be able to launch perpetual contracts, options and prediction markets for any underlying asset with a price on the Internet without permission. It will support meme coins, trading cards, sports games, commodities and more in the future; a full-featured smart contract environment for defining AMM strategies that quote directly on the order book, enabling liquidity for even the most marginal assets; the first step in this regard will appear in the upcoming 5.0 version, which includes a new sovereign oracle architecture provided by its partner Skip Protocol.
-Sovereign token economics: dYdX Chain is owned and operated by its community. The software achieves a "powerful flywheel effect with good friction" through user interaction. Every transaction automatically generates trading rewards in the same block. These trading rewards can be tracked and staked directly in the exchange interface to generate staking rewards. When their staking generates some USDC rewards, users can directly claim them as their trading funds.
-Social through transparency: dYdX Chain is transparent by default. dYdX will enable novel and unique experiences by developing some features based on on-chain transparency. The trading UI will seamlessly integrate the function of discovering traders with real advantages so that these traders can be followed, copied, and studied. The dYdX trading page will include analysis of trader positions, past trading behavior, and pending order data. Users can use these analytics to deeply explore each trader's profile, which forms the core of the social experience.