Ethereum-based decentralized trading platform dYdX will be deployed as an independent blockchain on the Cosmos ecosystem. The team behind the project made the announcement this morning leading to a positive reaction for its governance token, DYDX.
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At the time of writing, this token trades at $1.50 with an 8% profit in the last 24 hours for its USDT trading pair and a 10% profit on its ETH trading pair. In the meantime, larger cryptocurrencies are facing hurdles and could continue to consolidate around their current levels.
The standalone blockchain is part of this platform’s fourth iteration, dYdX v4. The team behind the project expects to “open source dYdX V4 by the end of 2022” but, as they clarified, this iteration will provide “critical” improvements so it will “require months of heads-down development”.
The team behind the Ethereum-based trading platform picked Cosmos and its Proof-of-Stake...
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