The dYdX Community Passes the Proposal to “Connect the Community and Reward Vault From Ethereum to the dYdX Chain”
dYdX community has voted in favor of the "Connecting Community with Treasury" proposal with a support rate of 99.99%.
Coinbase Cloud: Will become a validator for dYdX Chain
Coinbase Cloud announced on social media that it will support the soon-to-be-launched dYdX Chain and become its validator. Coinbase Cloud stated that the launch of dYdX Chain will drive its protocol to be fully decentralized and better control the trading experience. Since the P2P network itself is an order book, transactions can only occur when orders are filled, and it will also make it easy for developers to build features for advanced traders.
dYdX: The dYdX Chain interface will be open source so that anyone can deploy the front end
dYdX has announced that its dYdX Chain interface will be open sourced, meaning anyone can fork and deploy it based on v4 usage terms. While this is a big step towards decentralization, traders are advised to do more research before using the deployed dYdX Chain frontend, as it may become a target for bad actors to obtain traders' wallets and funds.
dYdX has over $4.4 billion in trading volume over the past seven days
According to official data, dYdX trading volume exceeded $4.4 billion in the past 7 days.
dYdX Has Launched the dYdX Chain V4 Testnet
dYdX has launched the dYdX Chain V4 testnet. Earlier this week, dYdX had just shut down the dYdX Chain V3 testnet.
dYdX Trading Becomes Public Benefit Corporation, Will Not Earn Trading Fee Revenue from v4 Platform
dYdX Trading, the operator of a major decentralized exchange, has become a public benefit corporation and will not earn trading fee revenue from its upcoming v4 platform. The company's new legal structure is committed to not just maximizing shareholder value. While dYdX will continue to generate trading fee revenue from previous versions of its protocol, it expects most trading activity to move to the new version over time. The v4 platform is currently functioning on testnet and is expected to go live on mainnet in the next few weeks.
dYdX converts to a public benefit company and will not operate or generate transaction fee income from dYdX V4
On October 17th, dYdX founder Antonio announced that dYdX Trading Inc. has officially updated its bylaws to become a Public Benefit Corporation. Antonio stated that as an open-source software developer, we will not operate or generate transaction fee revenue from dYdX V4 and we value aligning with the community as much as possible. As a benefit corporation, we will still be a for-profit company, but this allows me and the board to not only maximize shareholder value, but also act in the public interest.
dYdX founder: dYdX interaction will charge zero fees through dYdX Chain
Antonio, the founder of dYdX, announced on the X platform that dYdX transactions will be charged zero fees through dYdX Chain on dYdX Trading Inc. Competitive single basis point trading fees in the industry (CEX) will only be earned by DYDX pledgers when the planned software is deployed.
dYdX: dYdX Chain testnet 3 will be shut down tonight and testnet 4 will be launched later this week
dYdX officials announced on X that they will shut down dYdX Chain testnet 3 at 17:00 UTC tonight (01:00 tomorrow Beijing time) and launch testnet 4 later this week.
dYdX founder: Plans to transition to Cosmos this month
dYdX founder Antonio Juliano said on the Lightspeed podcast that the transition plan to Cosmos will take place this month, at which point the platform will be "completely decentralized".
