Copy/pasted from the Steam patch notes (https://store.steampowered.com/news/app/1715850/view/3326487835908549899)

Gameplay Changes:

• Wavedash loses less speed over time
  • 5% speed per frame -> 2% speed/frame
    
• Crouch loses less speed while sliding
  • 20%/frame -> 15%/frame
    
• Ground speed is retained when you jump
  • This allows you to exceed the maximum air speed of 15
    • While over the maximum air speed, you will lose speed at a rate of 0.7%/frame
      
  • Dash, run, and wavedash are all faster than the max air speed, so anything other than neutral jump will give you a faster burst of speed.
    
• Wavedashing is fully actionable after frame 3.
  • The list of possible actions that will cancel a wavedash includes crouching, dashing, and jumping.
    
  
  

While this list is short, the impact on gameplay will be extremely significant. The new wavedash is an incredibly potent swiss army knife that allows you to move on the ground with a new level of precision, and that lets you launch yourself through the air incredibly fast (and, again, pretty precisely).

Because of the analog nature of this tool, and the sheer range of possibility, I expect it to take a long time for this feature to be fully optimized, but when it happens it will be beautiful.

I will be releasing a large number of small updates over the coming weeks, addressing frequently asked for features and much needed changes. This was originally going to be one of those "small patches", and in a way it kind of is, but the effect it has on gameplay is major enough that I'm dubbing this 3.3.0. 3.2.X only lasted 11 days. :p

I'm releasing these patch notes a few hours before the update itself, while I get the itch build ready, but if you want you can try it early by going into the Betas tab and selecting "3.2.0-beta".

Anyways. There's a lot more to be excited for in the coming months. It's gonna be a wild ride. Hope to see you on it.

For clarity sake, here are the wavedash changes from 3.2.0 (they're relevant):

• When performing a wavedash, the player's speed is multiplied by 1.4 on the first frame.
  
• When performing a wavedash, the player's speed is reduced by 5%  2% each frame.
  
• Wavedashes can now be jump cancelled 3 frames earlier.
  
• When buffering an airdodge from jumpsquat, a wavedash will occur regardless of stick direction.
  (This allows keyboard/dpad users to get an optimal wavedash by simply holding left/right.)