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DYdX launches DEX Arcus based on Robinhood Chain, token price quickly retreats after news is released.

MarsBitNews
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Mars Finance News, on July 2, dYdX Labs announced the launch of Arcus, a decentralized exchange based on Robinhood Chain, supporting 24/7 trading of 95 stock tokens, equity perpetual contracts, and major cryptocurrencies, with zero fees for spot trading of stock tokens. Meanwhile, according to market data, the DYDX token price began to drop rapidly in the afternoon of yesterday; after the announcement was released, the decline accelerated again. It is currently trading at $0.145, with a 24-hour drop of 23.11%. Earlier, the day before, DYDX had gained more than 40% over 24 hours due to expectations sparked by a “major announcement.” The release of Arcus has raised concerns within the community about whether the new product will affect the independence and governance structure of the original dYdX Chain. In a post explaining the matter, the dYdX Foundation said that Arcus will not affect the operation of dYdX Chain, which is still governed by DYDX token holders and secured by a network of validators. The foundation said that trading, deposits and withdrawals, staking, governance, and validator operations on dYdX Chain are all maintained as normal. It added that, as the governance and staking token for dYdX Chain, the DYDX token’s mechanisms, supply, and operating mechanisms have not changed. The foundation also said that any adjustments to the validator set and related requirements still need to be approved through dYdX community governance.
DYDX-32.61%
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