😜 @dYdX has acquired Pocket Protector and simultaneously launched their open-source software version 4.0. The new version brings several feature upgrades, particularly in risk management and governance mechanisms, making them more mature, and overall performance is more stable. A quite practical update is the introduction of "Reduce-only" orders. Simply put, these orders can only reduce positions and cannot increase them, making them suitable for short-term trading and conditional orders, helping everyone better control risks and avoid increasing positions in the opposite direction due to operational errors. In terms of withdrawals, several security measures have been added, such as setting limits on IBC cross-chain withdrawals, with caps on both hourly and daily transactions, which can prevent large amounts of funds from being quickly withdrawn in emergencies. Additionally, if a sub-account experiences negative collateral or issues on-chain, withdrawals will be temporarily frozen to protect the overall system's stability. In governance, a new x/govplus module has been added, allowing token holders to directly penalize violating validators, which is particularly important for preventing unfair operations like MEV. The newly introduced authorization module allows accounts to authorize other accounts to operate on their behalf, facilitating voting delegation and automatic reinvestment, enhancing user experience and system flexibility. Overall, it feels like dYdX's upgrade not only enhances security and efficiency on a technical level but also puts effort into governance and user convenience, aiming to create a healthier and more sustainable ecosystem, which is quite worth paying attention to.