Wu learned that Barry, Co-CEO of Cosmos Labs, tweeted that dYdX has proven that a scaled exchange can operate entirely on-chain, but it recently faces competition from new-generation perpetual contracts like Hyperliquid and Lighter, the overall decline in DeFi, and threats from Web 2.5 platforms like Kalshi. Therefore, partnering with Robinhood, which has distribution capabilities, to pivot to RWA is a reasonable choice. He stated that the dYdX Chain has always been a sovereign chain. Although it uses the Cosmos tech stack, its fees, security, and value capture will not materially impact ATOM, and this change does not harm ATOM. Cosmos Labs will continue to double down on ATOM and the Hub ecosystem, and build new solutions for banks to issue and use tokenized deposits; the dYdX announcement will not change its direction.

ATOM2.52%
DYDX-6.67%
HYPE7.11%
LIT-5.24%
KALSHI16.54%
View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
Add a comment
Add a comment
No comments
  • Pinned