Instant Market Listings enable users to list and trade perpetual futures on virtually any asset on dYdX instantly without waiting for governance approvals or third-party permissions. This new product feature eliminates the traditional costs and delays associated with market creation, allowing users to respond swiftly to market trends.
With this feature, users can list established cryptocurrencies or emerging assets as perpetual markets on dYdX by adding 10,000 USDC to the new asset's sub-vault. These funds ensure that new markets launch with sufficient liquidity for efficient trading.
Launchable Markets on dYdX
Not all markets are currently eligible for instant listing. Skip, a third-party entity elected by the dYdX community as the Market Map Updater, manages the "launchable" markets on-chain.
To ensure compatibility and stability within the dYdX ecosystem, listed markets must meet specific volume and liquidity thresholds. These criteria guarantee seamless integration and provide a stable trading environment from the outset.
Most assets from Base, Ethereum, Solana, and centralized exchanges (CEXs) are supported, covering many of your favorite markets. The dYdX market mapper is actively working to expand this list, aiming to allow virtually any asset to be listed, including perpetual prediction markets.
Type the name of the market into the search bar. If the market is supported it will appear showing a "launchable" label next to it.
3. Begin Market Launch
Click on the launchable market and then on the "Preview Launch" button in the bottom right.
4. Add Funds for Liquidity
Add 10,000 USDC into your connected wallet to provide the required liquidity, then click "Deposit and Launch." Your funds will be locked for an estimated 30 days to support liquidity in the new market, providing the necessary orderbook depth to facilitate seamless trading. After the lock-up period, you can remove your funds if you choose.
5. Automatic Liquidity Activation
Once the funds are added, the MegaVault supplements your funds, providing liquidity to the new market. Trading can begin immediately.
6. Your Market is Live
Congratulations! Your market is now live on dYdX and supported by MegaVault’s liquidity.
7. Remove Your Funds Anytime
After an estimated 30 days, you can remove your funds at any time.
FAQ
How long is the lock-up period?
As part of the process to launch a market, a user agrees to lock the funds in MegaVault for an estimated 30 days.
The USDC is actually locked for 2,592,000 dYdX protocol blocks. The 30-day estimate assumes an average block time of one second to confirm each block during the lock-up period. The actual block times could be longer, so your USDC could be locked for more than 30 days.
The amount and lock-up period are parameters that the community can adjust at any time via dYdX governance.
Will the funds I add to MegaVault while launching a market be treated differently from other funds added to MegaVault?
No, besides being locked for an estimated 30 days, the funds added to MegaVault are treated the same as other funds unassociated with launched markets in MegaVault.
What does liquidity look like for a market that I list?
When a user launches a market, 10,000 USDC is atomically added into that market’s sub-vault. The MegaVault operator can subsequently adjust liquidity as they see fit.
Am I guaranteed to get my 10,000 USDC back in 30 days?
No. The 10,000 USDC will be added to MegaVault. MegaVault supports high-risk, illiquid, and volatile markets, and adding funds to MegaVault carries a material risk of loss. There is no protection of funds in MegaVault, and there is no guaranteed return. Please review the overview and FAQ of MegaVault for more details.
Is it legal to launch a market?
You are responsible for assessing the legality of launching a new market, and you are strongly encouraged to review all applicable laws and licensing requirements and consult professional advisors before doing so.
While dYdX is not available in certain jurisdictions, you should not rely on the availability of the instant listing software in a jurisdiction to inform compliance with laws. Neither the dYdX Foundation nor the software developer is your adviser.
Can I launch a market for US investors?
No. dYdX may not be used in the United States, Canada, or any other prohibited jurisdiction.
