dYdX to Introduce Perpetual Futures in Prediction Markets

The team behind the DeFi platform dYdX is set to launch perpetual futures with leverage on binary event outcomes in prediction markets. This was reported by CoinDesk, citing dYdX Foundation CEO Charles d’Haussy.

According to him, decentralized finance must develop a unique proposition compared to centralized counterparts.

The publication did not disclose additional details.

dYdX’s forthcoming entry into prediction markets is part of the dYdX Unlimited update, which is expected later this year.

Back in January 2024, the team, during the update of dYdX Chain to v3.0, added support for liquid staking of the utility token DYDX. Other improvements included enhancing the liquidation mechanism, simplifying margin requirements, and strengthening position closure controls.

In April, the network upgrade to v4.0 led to a glitch and a halt in block production.