dYdX, a decentralized exchange focused on providing perpetual contracts, is migrating away from Ethereum and spinning up its own blockchain thanks to the Cosmos SDK. The team expects the move to greatly help the protocol’s decentralization and processing capacity.
Moving With 10x in Mind
dYdX is becoming its own Cosmos-based blockchain.
The team behind the protocol announced today in a blog post a new version of dYdX which, instead of being based on Ethereum, will be its own blockchain in the Cosmos ecosystem. The upgrade, called V4, aims at fully decentralizing the protocol, which according to the team means ensuring the “decentralization of [the project’s] least decentralized component.”
dYdX is a crypto decentralized exchange (DEX) focused on the trading of perpetual contracts. While spot DEXs such as Uniswap and Sushiswap experienced tremendous growth during the bull run, dYdX and other derivative DEXs have yet to see meaningful adoption.
One of the issues plaguing derivative...
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