Ethereum

Token

dYdX (ethDYDX)

The <a target="_blank" href="https://tokeninsight.com/en/coins/dydx/overview">dYdX</a> community is voting on a governance proposal formalizing plans to convert its $DYDX token into a Layer 1 token ahead of the project’s appchain migration and v4 launch.
The proposal outlines plans to make DYDX the Layer 1 network token for the forthcoming dYdX Chain. The roadmap includes launching a one-way bridge allowing users to migrate DYDX from Ethereum to dYdX Chain.
The plan has garnered unanimous support so far, voting will be end on September 2. If the proposal passed, dYdX would exit the Ethereum ecosystem and launch its v4 on a Layer 1 appchain exclusively dedicated to it.
Last June, dYdX announced that its forthcoming v4 protocol will launch on a dedicated Cosmos-based blockchain. dYdX said the move will enable the launch of advanced features including a decentralized, off-chain orderbook and matching engine “capable of scaling to orders of magnitude more throughput than any blockchain.”
Learn More: <a target="_blank" href="https://tokeninsight.com/en/tokenwiki/all/what-is-dydx">What is dYdX</a>
<img src="https://s2.tokeninsight.com/static/calendar/img20230831114134d72a0410-a060-45c9-8cce-232d38141b3e.jpg">
Stay updated with the most important <a target="_blank" href="https://tokeninsight.com/en/news">cryptocurrency news</a> and valuable insights, conveniently delivered to your email every day. <a rel="noopener noreferrer nofollow" target="_blank" href="https://mailchi.mp/tokeninsight/newsletter">Subscribe to the TokenInsight mailing list now!</a>
Prefer social media? Follow us on <a rel="noopener noreferrer nofollow" target="_blank" href="https://twitter.com/tokeninsight">Twitter</a>, or subscribe to our <a rel="noopener noreferrer nofollow" target="_blank" href="https://t.me/TokenInsightchannel">Telegram channel!</a>
If you have news reports or announcements that you want to reach a wider audience, feel free to email us at <a href="mailto:news@tokeninsight.com">news@tokeninsight.com</a>

dYdX Start to Vote for V4 and Token Migration to dYdX Chain

TokenInsight

Other articles published on Aug 31, 2023

Yearn Community Approved the "Launch v3 Proposal"

Judge Dismisses Uniswap Lawsuit; Describes ETH a Commodity

BingX BTCUSDT scored industry lowest Slippage after Advanced Perpetual Futures Upgrades

City University Ajman and Ajman Municipality Collaborate in Empowering Human Resources through We...

🔥opBNB — New Vote on Roobee DAO!

Swift and Chainlink Collaborate to Foster Interoperability for Tokenized Asset Markets

Join our free newsletter for daily crypto updates!