This month concludes our designated market maker for long-tail markets on dYdX. As a reminder, we partnered with both RavenDAO and Velar Technologies to improve the liquidity and spread on longer tail, illiquid markets. In doing so, we allow traders to execute better trades across more markets, and improve the overall health of the protocol by minimizing volatility and illiquid market manipulation.

RavenDAO will provide market making services on dYdX v4 long-tail assets through an ongoing monthly agreement with the DEP. The goal for these services is to improve top of book liquidity and spreads for the supported markets.The DEP will provide an initial list of markets to be supported. In addition to these markets, RavenDAO will be asked to support new markets listed through governance. The DEP will inform RavenDAO four days in advance of the market being listed. RavenDAO will be expected to add liquidity within twelve (12) hours of the market being listed on dYdX.