Is dYdX a Good Crypto?
This week we’ll be looking at the longstanding dYdX Perpetuals DEX to figure out “Is dYdX a Good Crypto?” Despite being off to a slower start than its biggest competitor GMX Exchange (What is GMX Exchange?), DYDX has a lot going right for it with perpetuals on the rise as more crypto investors dip their toes into this new and exciting marketplace. But, there’s one major problem holding this technology back. Those pesky and criminally negligent regulatory agencies. Dragging their feet in an attempt to stall innovation has led to protocols like dYdX being forced to pivot in new ways. What effect will these changes have on the future of this market and does it even matter? All that and more in today’s Wealth Mastery Altcoin Review.
If you’re like me and reading this from one of the many restricted regions not allowed to interact with these marketplaces, then you know how frustrating it can be, sitting quietly on the sidelines. But, all of that is slowly changing and dYdX is one of those at the frontlines of this fight.
As we approach the release of the platform's fourth software upgrade, we can expect some big changes in the near future for dYdX. The biggest of which is the introduction of a brand new dYdX Chain. Operating through sub-DAOS has allowed the dYdX corporate entity (which designed and developed the platform) to legally distance itself from the not-for-profit DYDX Foundation, where governance is based. Upgrading to Version 4.0 in June will dissolve these two existing sub-DAOs and create several new autonomous ones as a way to further decentralize the system.
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