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Crypto markets rallied during the weekend with BTC jumping 3.77% over the weekend.
Make sure to take profits.
In todayβs newsletter, weβll cover dYdX. If you have more thoughts, make sure to write a review for dYdX on Smoothie and share it with your network.
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dYdX is currently the leader in perpetual contracts (perps) by most trading metrics.
However, dYdX is in a critical transition period, shifting its foundation from StarkEx to its own Cosmos chain while introducing new capabilities.
Weβll aim to break down the components that make dYdX a significant player and what the future holds for this ambitious project.
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The platform utilizes an orderbook model, a blend of centralized and decentralized elements, to provide an optimized trading experience.
Here, users initiate on-chain orders that are subsequently matched with off-chain order books.
This architecture mitigates the risks of frontrunning while ensuring rapid balance updates.
What's noteworthy is how the model attracts market makers, thereby providing significant liquidity and boosting trade volumes.
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The next iteration, known as dYdX v4, is in its private testnet phase.
Public testnet release is planned for July, with the mainnet expected in September.
One of the most captivating aspects of v4 is that it will operate on its own Layer 1 (L1), built on the Cosmos SDK.
With their own validators run orderbooks offchain.
This move will provide dYdX with unprecedented control over its infrastructure, from fee structures to validator networks.
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Write your review for dYdX on Smoothie.
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dYdX has positioned itself as a robust platform for traders seeking minimal fees and a seamless bridge from the Ethereum mainnet.
With the upcoming transition to its v4 architecture, the DEX is likely to fortify its market position, assuming the execution matches the vision.
However, token holders should brace themselves for potential volatility towards the end of the year, as the platform undergoes major shifts in both technology and tokenomics.
Write your own review for dYdX on Smoothie.
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Upland: $7.0M
Real-world metaverse for virtual property trading Upland raised $7M in a Series A funding round led by EOS Network, with participation from C3 Venture Capital, Animoca Brands.
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Chainspot is an aggregator of the best cross-chain solutions for users and developers
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With Spindl, Know where your users came from, what they're doing, and why.
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ChainAware.ai is an AI-Analytics company.
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This is a special newsletter. Every week, we deconstruct the best crypto trends and share those insights with you.