🤑 @dYdX announced the winner list of the $10,000 PUMP-USD trading competition, and also launched the v4.0 version of the Open Source software, bringing many new features and upgrades. It is clear that dYdX not only wants to provide users with a better trading experience but is also continuously strengthening security and governance.

This upgrade supports "Reduce-only" type orders, which simply means orders that can only reduce positions. They are mainly used in certain market and limit orders, allowing users to manage risks more flexibly, especially for short-term and conditional orders. This is quite useful for frequent traders.

Withdrawal features also include a speed limit design, especially for IBC token withdrawals, which have maximum limits per hour and per day. This helps prevent large-scale capital outflows in emergencies, protecting the stability of the entire ecosystem. Additionally, if a sub-account experiences negative collateral or there is a prolonged downtime on the chain, withdrawals and transfers will be temporarily restricted for 50 blocks. These measures reflect their emphasis on risk control.

Governance has also been enhanced by the introduction of the x/govplus module, allowing token holders to penalize non-compliant validators, such as those engaging in MEV. This is a very necessary feature that makes the network fairer and more transparent. There is also an authorization module called x/authz, which allows accounts to authorize others to operate on their behalf, supporting voting delegation and automatic reinvestment. This undoubtedly makes the ecosystem more flexible and gives users more freedom.

Overall, this upgrade not only enhances the trading features but also makes security and governance more meticulous. dYdX aims to allow users to trade smoothly while feeling secure and at ease. Looking forward to more surprises they will bring in the future. The key is that it has a leaderboard event on @KaitoAI.