😘 @dYdX has launched a weekly challenge with a prize pool of up to $40,000. This is not only a benefit for the community but also a stimulation for ecological activity. By the way, their v4.0 version has also officially launched, bringing many upgrades that enhance performance as well as risk control and governance mechanisms.

Speaking of trading experience, the new version supports "Reduce-only" orders, which are quite practical. In simple terms, it means you can only reduce your position and not increase it in the opposite direction. This is particularly helpful for short-term trading, especially for market orders and take-profit/stop-loss commands, as it allows for better risk control and helps avoid operational mistakes.

The withdrawal section has also implemented strict flow control design, as the safety of funds is the top priority. For example, there are restrictions on IBC cross-chain withdrawals, where a maximum of 1% of the total locked amount or $1 million can be withdrawn per hour, and a maximum of 10% per day, to prevent large-scale withdrawals of funds in emergency situations. Additionally, if an account has negative collateral or there is prolonged congestion on the chain, withdrawals and transfers will be automatically suspended to ensure system stability.

In terms of governance, a new x/govplus module has been added, giving token holders more power to penalize those validators who do not follow the rules, especially to prevent actions that undermine fairness, such as MEV. There is also an x/authz module that supports account authorization for other accounts to operate, making voting delegation or automatic reinvestment more flexible and convenient, and the entire ecosystem operates in a more intelligent manner.

Overall, this upgrade not only makes dYdX more user-friendly but also significantly enhances its security. The launch of the challenge will attract more participants, and it feels like dYdX's layout in the DeFi field is becoming more comprehensive, with promising prospects ahead. The key point is that it has a leaderboard event on @KaitoAI.