Instant market listings enable any dYdX user to launch any “launchable” market instantly by depositing into the MegaVault. MegaVault enables instant market listings by seamlessly providing liquidity to new markets, ensuring smooth trading from day one.

Head over to the markets page, type in the market you'd like to launch, select the market and then follow the steps to launch. The process takes roughly 1 minute.

The universe of launchable markets is maintained onchain by a third party, Skip, who was elected to be the Market Map Updater by DYDX holders.

While Skip maintains the onchain list, generally markets must hit various volume and liquidity thresholds to be included. These thresholds aim to ensure that any new market meets baseline compatibility requirements with dYdX software.

Markets take roughly 1 minute to launch.

To launch a market, any user must have 10,000 USDC available. As part of the process to launch a market, a user deposits 10,000 USDC into the MegaVault. That 10,000 USDC is locked in the MegaVault for 30 days.

No, besides being locked for 30 days, the deposit into MegaVault is treated the same as a normal MegaVault deposit.

Depositing 10,000 USDC and locking for 30 days for a market listing through MegaVault offers multiple advantages. It provides instant liquidity, ensuring smooth trading with minimal slippage and deeper order books, which enhances market visibility and credibility. This liquidity also stabilizes the market, reducing volatility and fostering trust among traders. Both of these are governance parameters that the community can adjust at any time.

When a user launches a permissionless market, 10,000 USDC is atomically deposited into that market’s onchain vault (a.k.a. sub-vault). The MegaVault operator can subsequently adjust liquidity as they see fit.

No. The 10,000 USDC will be deposited into MegaVault. MegaVault provides liquidity in high risk, illiquid and volatile markets and there is material risk of loss by depositing into MegaVault. There is no protection of deposits in MegaVault and there is no guaranteed return from depositing in MegaVault. Please review the MegaVault FAQ for more details.

You are responsible for assessing the legality of launching a new market, and you are strongly encouraged to review all applicable laws, 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 listings software in a jurisdiction to inform compliance with laws. The software developer is not your adviser.

No. dYdX may not be used in the United States, Canada or any other prohibited jurisdiction. Please read the Disclaimer and Terms section for more information.

Disclaimer and Terms

This document may provide information with respect to the dYdX Chain software, and/or non-mandatory guidelines and suggestions that may help with using dYdX Chain software. dYdX Operations Services Ltd. does not run dYdX Chain validators nor operate or control the dYdX Chain network. dYdX Operations Services Ltd. is not responsible for any actions taken by other third parties who use dYdX Chain software. dYdX Operations Services Ltd. services and products are not available to persons or entities who reside in, are located in, are incorporated in, or have registered offices in the United States or Canada, or Restricted Persons (as defined in the Terms of Use). The content provided herein does not constitute, and should not be considered, or relied upon as, financial advice, legal advice, tax advice, investment advice or advice of any other nature, and you agree that you are responsible to conduct independent research, perform due diligence and engage a professional advisor prior to taking any financial, tax, legal or investment action related to the foregoing content. The information contained herein, and any use of products or services provided by dYdX Operations Services Ltd., are subject to the Terms of Use.