Decentralized exchange DYDX is about to move it platform from Ethereum to a Cosmos blockchain of it’s own creation. Before investors make the move, they should understand the process.
Decentralized exchange dYdX is about to move from the Ethereum blockchain to Cosmos, and the transition is one-way.Just a few years after leaving Coinbase, software developer Antonio Juliano had built a competitor doing more daily volume.
Investors should take note: Taking a page from shuttered centralized exchange FTX, and Binance, which have tokens used to reward users, dYdx uses a similar cryptocurrency to reward investors with the hope of keeping them from going to competitors. Below, watch a lengthy interview with Juliano where he explains that the “bridge” used to move the assets to the new blockchain is one-way.
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