dYdX Updates Roadmap with Near-Term Improvements Focused on Speed and User Experience

Decentralized perpetual contracts trading platform dYdX has updated its near-term roadmap which details improvements focused on enhancing speed and user experience

Decentralized perpetual contracts trading platform dYdX (CRYPTO: DYDX) has updated its near-term roadmap which will see the platform make improvements focused on enhancing speed and user experience. The platform is also planning to roll out several new trading features in the coming months.

According to its near-term (next two months) roadmap update, dYdX plans to drastically improve its website stability during periods of high trading activity by reducing downtime, eliminating stale data, and increasing throughput capacity. The platform will also be making both the deposit and withdrawal process easier and faster, enabling users to access their funds on the dYdX Chain in less than a minute, compared to the typical 18+ minute wait.

The website’s front-end interface will also be revamped to make it load faster and the platform will be adding new features that are already being offered by competitors, such as reduce-only limit orders, scale orders, and TWAP orders. Finally, the platform will release bi-weekly development and deployment notes to keep the community informed of the latest progress.

Once these updates are implemented, dYdX plans to release a detailed roadmap for the rest of the year. They have laid out a sneak peak of potential developments the longer-term roadmap will include. This will see the platform expand its digital asset offerings (including pre-launch assets and real-world assets), integrate oracles to provide better price feeds, and complete its integration with Ethereum (CRYPTO: ETH). The platform will also be developing support for automated trading through tools like Hummingbot and CCXT, and launching a reward program.

Currently, dYdX is primarily used by professional traders who need deep liquidity, algorithmic trading support, and leveraged trading of perpetual contracts. However, in their roadmap update announcement, the platform said that it wants to attract more retail investors. To this end, the company recently released a new streamlined mobile app. Going forward, it plans to integrate with major wallets and other third-party apps to make dYdX available to more users.

The roadmap update comes on the heels of the recent dYdX Chain upgrade to version 8.0, which was decided in a community vote. The upgrade introduced “permissioned keys” to give traders more control over their accounts and enabled the removal of inactive markets to keep the platform streamlined.

Buoyed by the latest roadmap update , the DYDX token, which can be staked and used for governance, is currently trading at $0.59, registering an 8% rise in the 24-hour trading period. The 24-hour trading volume stands at $22,762,737.