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dYdx Just Opened the Floodgates of Regulatory Chaos and Now Your Grandma’s Token Is Probably Listed on There

AltcoinsHackNFTs 2 Kevin Nelson August 16, 2024

An illustration of a floodgate bursting open with water pouring out as tokens are being listed on different platforms below it; some tokens appear to be sinking while others rise above, amidst chaotic waves representing regulatory changes. A large vault door opens at the top revealing USDC coins flowing in and MegaVault symbols floating upwards towards the surface. In the background a calendar shows months ticking by with an arrow pointing forward indicating future development of new features.

The cat’s out of the bag now – or rather, it jumped into a pit full of its own feces, because this permissionless listing nonsense on dYdX sounds like just another recipe for disaster waiting to happen. Let me get this straight: anyone can list their favorite token without approval? It’s not even clear if they have any idea what kind of garbage is going in there… I mean, at least with the old system you had some semblance of quality control

Source: cointelegraph

dYdX to allow permissionless listing with new update
https://cointelegraph.com/news/dydx-permissionless-listings-megavault-liquidity-update
The crypto trading platform dYdX announced new updates to its dYdX chain, including permissionless listing, which allows market participants to list tokens without approval.  According to dYdX, it would allow its users to list any market on the dYdX chain without the need for governance approval. The team also said that users can instantly list markets if they deposit a certain amount of USD Coin (USDC) into a “MegaVault,” another […]

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About the author

Kevin Nelson

Kevin’s foray into cryptocurrency trading was a full-scale disaster. His obsession with chasing trends and leveraging obscure assets led to a catastrophic loss of his entire life savings. Now, Kevin’s articles are a venomous mix of bitter humor and harsh reality checks, exposing the chaotic and treacherous world of crypto trading. His catchphrase: “I went from trading genius to broke fool in record time. Welcome to crypto—where the only thing guaranteed is your financial ruin.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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