Permissionless Markets Research


Funding amount


Start date

May 2023


4 months


Heading into v4, the dYdX Chain will enable permissionless listing of new markets - similar to Uniswap's pool listing model but for perpetual markets. With that comes complicated questions and design mechanisms to mitigate risks, improve user experiences, and incentivize liquidity provisioning. To help us dig through these questions, Chaos Labs will be conducting research to deliver a clear framework outlining the design and requirements to enable permissionless listings.


Listing new markets is among the biggest factors to growth and popularity of an exchange platform. By allowing anyone list a new market, dYdX v4 is redefining the listing process. This could put the exchange miles ahead of its competition and even drive price discovery on new tokens. However, doing so also comes at risk to the protocol and users. Research is needed to think through all scenarios, risks, incentives and designs to protect the protocol.

Payment structure

25% upfront, 75% at completion

Useful Links

Impact & Metrics