dYdX Chain Protocol v4.0 Upgrade Proposal is LIVE!

[dYdX_Ops_subDAO]

Hello dYdX Community,

We want to announce that the dYdX Chain Protocol v4.0 Upgrade proposal is now live.

This next version introduces substantial enhancements aimed at improving the platform’s functionality and security:

@dYdX_Ops_subDAO

Specification:

Detailed information on the Protocol v4.0 features can be found in the draft release notes .

Key updates include:

• Reduce-Only Orders - added support for Fill-Or-Kill (FOK) and Immediate-Or-Cancel (IOC) orders with a Reduce-Only option.
• Conditional Order Improvements - enhancements in telemetry and triggering mechanisms for conditional orders.
• IBC Withdrawal Rate Limiting - introducing rate limiting for asset withdrawals using a Continuous Token Bucket algorithm, with default limits for Noble USDC.
• Subaccount Withdrawal Gating - blocking transfers and withdrawals for 50 blocks under certain conditions, enhancing network safety.
• Community Enabled Slashing - a governance feature that allows community proposals to slash validators for misconduct. This would enable the MEV Slashing Committee to create a governance proposal to slash validators engaged in malicious MEV as proposed on DIP 3 “Launch Social Mitigation Strategy for MEV ”.
• Adding the x/authz Module - incorporating the x/authz module from cosmos-sdk into the protocol to enable granting privileges.
• Cosmos SDK v0.50 - upgrades to Cosmos SDK v0.50.3, enabling new features such as optimistic execution and vote extensions.

Proposal link - Mintscan

Proposed Block Height - 12791712

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The community is now supporting the proposal through votes. This is an opportunity to contribute towards the dYdX’s future development.

We encourage every dYdX community member to actively participate in the voting process. Your support is invaluable as we continue to innovate and enhance the dYdX Chain.

Thank you for your continued support and active participation.

dYdX Operations SubDAO

[erience]

I have previously raised a concern regarding the proposed withdrawal limit, as discussed in the recent Discord session. I understand that a recording of the entire session is to be made available. Could you kindly provide me with the link to access this video?
Thank you for your assistance.

[erience]

I’m eager to share my concerns regarding the IBC Withdrawal Rate Limit but it seems I might be facing some restrictions as a new user, which currently prevents me from creating a new thread.

[Stan]

@erience

I have previously raised a concern regarding the proposed withdrawal limit, as discussed in the recent Discord session. I understand that a recording of the entire session is to be made available. Could you kindly provide me with the link to access this video?

Hi @erience, welcome to the dYdX Governance Forum, could you please share more context on which video you are referring to?

@erience

I’m eager to share my concerns regarding the IBC Withdrawal Rate Limit but it seems I might be facing some restrictions as a new user, which currently prevents me from creating a new thread.

It seems that your account has been just created, currently, you are at trust level 0.

Only accounts with Trust Level 1 and above can create topics, this is a prevention to avoid spam, low-value discussions, and bad actors.

You can reach Trust Level 1 by engaging with other community members on the forum.

With that said, please avoid leaving unrelated to-topic comments, such action could penalize your account.

Cheers,