dYdX, a DeFi platform, recently experienced substantial uncertainty. Firstly, the platform reportedly dismissed 35% of its staff, as they are planning to focus on new developments. Moreover, their CEO, Antonio Juliano, returned to his role after announcing his decision to step down months earlier. However, amidst the layoffs,
dYdX has launched a new prediction market, allowing users to wager on the outcome of the next US presidential election.
Despite these challenges,
dYdX continues to innovate. They've developed a new
dYdX v3 platform and introduced a new
decentralized exchange (DEX) service. They are launching this service in an attempt to raise their profile. Despite these developments, the v3 platform reportedly faced a DNS attack and was compromised.
On a positive note,
dYdX has registered a 30% rally, with signs of further upward movement. Several reasons are behind this - one is the integration with Keplr wallet that boosted access for over a million users. Another factor is the reports of backing from Trump's new crypto advisor. Amid these developments, the dYdX community approved a revenue sharing proposal as network activity soars.
Looking ahead, dYdX is planning to launch 'dYdX Unlimited', converging CeFi and DeFi. While the future for
dYdX appears mixed, the company's decision to focus on its innovative capabilities may contribute positively to its growth in the long run.
DYDX Coin News Analytics from Mon, 14 Nov 2022 08:00:00 GMT to Tue, 17 Dec 2024 23:53:01 GMT -
Rating 0
- Innovation 4
- Information 6
- Rumor -2
