[DRC] Proposal for dYdX Protocol Upgrade v8.0

TL;DR: (summary)

We would like to submit for consideration a software upgrade proposal for the dYdX Protocol Upgrade v8.0. This upgrade introduces Permissioned Keys and Marketmap Removals, alongside various improvements.

Important: Please consider the following binary if you’d like to proceed with the upgrade, it includes an important fix: Github

Introduction:

Hello dYdX Community,

dYdX Operations subDAO would like to highlight dYdX Protocol Upgrade v8.0, which includes:

  • Permissioned Keys which improves API Traders’ account risk and safety.
  • Marketmap Removal which allows elected Market Mapper(s) to remove non-launched markets and other improvements.

Note: the implementation of the v8.0 software is subject to a software upgrade governance proposal.

Specification:

Detailed information on the v8.0 features can be found in the release notes.
Key updates include:

  • Permissioned Keys - Enables API traders to leverage permissioned keys for granular control of account permissions and improved risk and safety.

  • Marketmap Removals - Enables removal of non-enabled (unlaunched) markets from the marketmap by the elected Market Mapper(s).

Next Steps:

Feedback is welcome on this DRC. The dYdX Operations subDAO suggests the following timeline for proceeding with the vote proposal:

  • Proposal Submission: Jan 17th
  • Expected Vote Outcome: Jan 21st
  • Upgrade Date: Jan 22nd
  • Suggested Block Height: 35602000

Resources:

We recommend a community member with enough unstacked DYDX to submit an on-chain proposal for the upgrade.

NOTE: Please make sure to include the required info-fields in the proposal

Also, please note that the protocol software has dropped patch number from upgrade name, therefore mandating using “v8.0” in the proposal JSON.


Thank you for your continued participation and support in the governance and improvement of the dYdX Chain.

dYdX Operations SubDAO

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On behalf of the PRO Delegators’ validator, we are ready to execute the upcoming upgrade. We would also like to take this opportunity to commend the team for their hard work and dedication in implementing these protocol enhancements.

One particular feature we, along with our traders’ communities, greatly appreciate is the introduction of permissioned keys for APIs:

This advancement significantly enhances the infrastructure for managing non-custodial third-party trading. While this may not seem pivotal to the average user, it represents a critical improvement for professional traders relying on robust and secure trading systems.

We are excited to see this feature in action and anticipate the positive impact it will have on the ecosystem.


Thank you for reading,
Govmos
pro-delegators-sign

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