dYdX Trading is exploring strategic alternatives related to v3 technology, which do not include Ethereum smart contracts or other technologies governed by utility tokens.

This process is completely independent of dYdX Chain, which is fully open source and we do not control it. We remain focused on developing DeFi products and look forward to a fully decentralized dYdX Chain.

We remain focused on open source software development for dYdX Chain and have demonstrated our determination and plans in our latest product roadmap.

Background

As an important reminder, the dYdX v3 exchange is equipped with an offshore matching engine powered by dYdX Trading. All fund flows and trade settlements on the v3 platform are executed through smart contracts governed by token holders, and trading fees belong to dYdX Trading.

In contrast, dYdX Chain is fully decentralized. All transaction fees generated on the dYdX Chain platform will be directly distributed to network validators and DYDX token stakers. In addition, all code of dYdX Chain is open source, ensuring transparency and community participation.

What are we doing?

dYdX Trading is exploring strategic alternatives related to v3 technology, which does not include Ethereum smart contracts or other technologies governed by utility tokens. Of course, DYDX token holders must vote to approve any changes to the underlying smart contracts of v3.

Why are we doing this?

dYdX Trading is fully committed to the development of dYdX Chain. Despite the significant achievements of v3, we remain convinced that dYdX Chain better reflects the grand vision of dYdX Trading Inc. and the core values of DeFi. We will spare no effort to promote the innovation and development of this software.

Evaluating strategic alternatives to v3 technology is part of our strategy to focus on our core business and ensure the greatest success for the dYdX Chain software.

What's next?

We have planned a series of innovative features for the dYdX Chain software, including deep integration with Elixir, introducing innovative liquidity solutions, open market access mechanisms, and revolutionary trading methods. These exciting new features are expected to be unveiled in the coming months.

View our product roadmap here.

About dYdX

dYdX's mission is to advance universal and equal financial opportunity. We firmly believe that the launch of dYdX Chain is a critical step toward achieving this goal.

Terms and Conditions

This document provides information about the default settings of dYdX Trading Inc.'s ("dYdX") open source v4 software, the "dYdX Chain". dYdX does not deploy or run the v4 software for public use, and does not operate or control any dYdX Chain infrastructure. dYdX is not responsible for the actions of any third parties that use or deploy the v4 software, including dYdX Chain. dYdX's services and products are not intended for persons or entities residing, located in, registered in, or having a registered office in the United States or Canada, or Restricted Persons (as defined in the dYdX Terms of Use). The content provided herein does not constitute, nor should it be considered, or relied upon as, financial advice, legal advice, tax advice, investment advice, or any other advice of any nature, and you agree that it is your responsibility to conduct independent research, perform due diligence, and engage professional advisors before taking any financial, tax, legal, or investment action related to the foregoing. The information contained herein and any use of the v4 software are subject to the v4 Terms of Use.

This article is contributed and does not represent the views of BlockBeats

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