@dYdX will migrate to @cosmos in order to open its own chain โ๏ธ
Let's see what we got for ๐งต;
token.unlocks.app
Let's see what we got for ๐งต;
token.unlocks.app
1/x
dYdX is a decentralized exchange protocol that offers perpetual trading options. ๐
Perpetual trading has an advantage over spot trading as people can profit in both bull and bear markets. ๐ฐ
dYdX is a decentralized exchange protocol that offers perpetual trading options. ๐
Perpetual trading has an advantage over spot trading as people can profit in both bull and bear markets. ๐ฐ
2/x
The vision of $dYdX is to be fully decentralized. However, the current dYdX (v3) uses an off-chain matching engine that stores and matches orders, which relies on AWS. It's centralized
The vision of $dYdX is to be fully decentralized. However, the current dYdX (v3) uses an off-chain matching engine that stores and matches orders, which relies on AWS. It's centralized
3/x
Therefore, moving to @cosmos is the solution in order to customize its own chain to the desired criteria.
The present off-chain matching engine will be transferred to validators on the dYdX chain, which will run an in-memory order book in order to achieve a full DEX.
Therefore, moving to @cosmos is the solution in order to customize its own chain to the desired criteria.
The present off-chain matching engine will be transferred to validators on the dYdX chain, which will run an in-memory order book in order to achieve a full DEX.
4/x
As well as, Cosmos SDK and Tendermint Consensus have an estimated TPS similar to StarkEx rollup (L2)
As well as, Cosmos SDK and Tendermint Consensus have an estimated TPS similar to StarkEx rollup (L2)
5/x
In terms of tokenomics, it's still unclear whether the @dYdX chain will use the $dYdX token or not, but its allocation to the Team and Investors is 50% of the total supply, which is a considerable amount and will be partially unlocked early next year (Feb 2023) ๐ผ
In terms of tokenomics, it's still unclear whether the @dYdX chain will use the $dYdX token or not, but its allocation to the Team and Investors is 50% of the total supply, which is a considerable amount and will be partially unlocked early next year (Feb 2023) ๐ผ
6/x
The currently locked token $dYdX is 84%, which is also a significant amount; even after the team and investors unlock it early next year, it's still 74% locked, roughly.๐
The currently locked token $dYdX is 84%, which is also a significant amount; even after the team and investors unlock it early next year, it's still 74% locked, roughly.๐
7/x
Despite what tokenomics looks like, the revenue of dYdX is quite interesting as it's increasing over time even after the May Crash and is still higher than many DApps
Unfortunately, the fees collected from trades are not going to the $dYdX holder.
Source: @tokenterminal
Despite what tokenomics looks like, the revenue of dYdX is quite interesting as it's increasing over time even after the May Crash and is still higher than many DApps
Unfortunately, the fees collected from trades are not going to the $dYdX holder.
Source: @tokenterminal
9/x
Think 10X Bigger is a core value of @dYdX. Currently, dYdX accounts for just 1% of all perpetual trading in both CEX and DEX
With the protocol's core value, the team set the goal of achieving 30% of all perpetual trading, and imagine if it adopted the revenue-sharing model
Think 10X Bigger is a core value of @dYdX. Currently, dYdX accounts for just 1% of all perpetual trading in both CEX and DEX
With the protocol's core value, the team set the goal of achieving 30% of all perpetual trading, and imagine if it adopted the revenue-sharing model
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