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dYdX(DYDX)

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$2.027
(-5.12%)
0.00008495 BTC
Market Cap (Rank#208)
$132,907,454
5,570 BTC
Vol 24h
$31,016,046
1,300 BTC
Circulating Supply
65,569,295
Max Supply
1,000,000,000
4 days agocointelegraph
Tornado Cash DAO goes down without explanation following vote on treasury funds
Github, Circle, dYdX, Alchemy, and Infura... All platforms have taken action against Tornado Cash or individuals connected to the mixer following U.S. sanctions.
5 days agocointelegraph
dYdX confirms blocking (and unblocking) some accounts linked to Tornado Cash
The platform said it has used compliance vendors to scan for and flag accounts potentially associated with illicit activities, including sanctions lists for many countries.
5 days agocryptopotato
dYdX Confirms Blocking Accounts Linked to Tornado Cash
Multiple users accounts with a history of using Tornado Cash were banned by dYdX.
5 days agocoindesk
Crypto Exchange dYdX Blocked Accounts That Received Even Small Amounts From Tornado Cash
Cryptocurrency exchange dYdX said it blocked user accounts with an association with Tornado Cash, the crypto-mixing service recently sanctioned by the U.S. Treasury.
7 days agocryptodaily
X Open Hub Adds 30 New Cryptocurrencies and 2 Emerging Market Indices to its Vast Asset List
Global provider of cutting-edge liquidity and technology solutions for financial institutions, X Open Hub has announced additions to its vast multi-asset offerings. The company has introduced 30 new cryptocurrencies and two emerging market indices, CH50cash and IND50cash, to the 5000+ global instruments it already offers. With 12+ years experience offering world-class technology and transparent liquidity solutions for banks and brokers, X Open Hub is committed to supporting financial firms. The company aims to help them achieve cost-optimized business models through improved operational efficiency and increased profitability. The Crypto Winter Is Ending Say AnalystsDespite the ongoing cryptocurrency winter, millennials and Gen Zs are increasingly looking at digital assets for investment purposes. A rise in awareness and education regarding this class of assets, along with their low correlation with price moves in traditional investment instruments, has been driving this interest. Increasing regulatory oversight across numerous countries is expected to lend stability to the digital asset class. Additionally, the rise of DeFi projects is also likely to drive interest in cryptocurrencies. Moreover, the decline in crypto prices in recent months has many investors wondering whether to buy the dip before the crypto winter ends. Historically, there have been four such crypto winters, including the current one. Each time, the market has reversed within around a year. So, investors might be looking at acquiring digital currencies while the prices are still low and before the market begins to rise once again. X Open Hub Adds 30 New CryptosBrokers are increasingly looking at offering their clients opportunities to trade the most popular and promising digital currencies. X Open Hub has added 30 new cryptocurrencies to its already long list of crypto offerings. The new crypto offerings available through X Open Hub’s liquidity solution are extensive and include: AAVE, ALGORAND, APECOIN, CHILIZ, COSMOS, CRONOS, CURVEDAO, DECENTRALAND, DYDX, ELROND, FANTOM, FILECOIN, FTX, GALA, GRAPH, INTERCOMP, IOTA, KILOSHIB, KYBER, MAKER, METAL, NEO, SANDBOX, STEPN, SUSHI, TRON, VECHAIN, WAVES, ZCASH and ZILLIQA. “We believe brokers need to stay abreast of trends and should perceive a wide range of cryptocurrencies as an additional tool to attract new customers or manage their retention. In the last quarter, we devoted a lot of attention to developing our asset class offering and equipping our partners with all the tools necessary to remain competitive in the market,” stated Michael Copiuk, CEO of X Open Hub. IND50cash and CH50cash X Open Hub has also added the IND50cash and CH50cash indices to its liquidity offerings. The IND50cash is based on the Nifty 50, the benchmark index that includes 50 of the most profitable companies across 12 sectors listed on the Indian stock markets. This makes it a well-diversified index. Alternatively, the CH50cash, is based on the China A50, a pan-China benchmark index that includes the top 50 companies, based on market cap, listed on the Shanghai and Shenzhen stock exchanges. A Global Leader Established in 2010, X Open Hub is the institutional arm of the XTB, which is listed on WSA and licensed across multiple jurisdictions, including the UK FCA, CySEC, IFSC, FSCA, and more. XOH has created a niche by providing complete front- and back-end technology and responsive support to propel growth for financial firms. X Open Hub’s solutions include deep institutional liquidity on more than 5,000 global instruments, including indices, shares, forex, cryptocurrencies, commodities, and ETFs, and a powerful white label platform that can be fully customised and branded for each brokerage. X Open Hub also offers multiple integration options to ease operations for brokers, such as FIX protocol, xAPI, MT4/MT5 Bridge or Gateway, and integration with Prime XM, Gold-I, oneZero, and more. This has helped the company gain over 100 clients across more than 30 countries within a decade of being launched. Speak to the X Open Hub Team about cryptocurrencies and emerging market indices. Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
48 days agocoindesk
A Major Crypto Exchange Abandons Ethereum: Is the World’s Computer Falling Behind?
By ditching Ethereum for Cosmos, dYdX has sparked claims that it has chosen sovereignty over security.
51 day agocryptodaily
Crypto Weekly Roundup: Horizon Hacked, Solana’s Crypto Phone, OSC’s Crypto Exchange Crackdown, Ronaldo’s NFT Endeavour, And More
The market is still in recovery mode. Regulators across the globe are getting strict about compliance issues. On the other hand, another cross-chain protocol fell susceptible to its vulnerabilities. Let’s find out more. Bitcoin Binance CEO Changpeng Zhao is trying to be the voice of reason, saying that the market fluctuations are a part of a nascent industry like crypto. Colombia has elected a pro-Bitcoin president who had strongly favored the digital currency in his speeches. DeFi Harmony’s cross-chain protocol, the Horizon Bridge, has been hacked, leading to a loss of funds of around $100 million. DYdX has announced that it is parting ways with Ethereum to launch its own standalone blockchain. Leading DeFi protocol Bancor has come under fire after it paused the impermanent loss protection program, citing extreme market conditions. Altcoins Solana Labs has partnered with OSOM to develop a new android device, which will function as the first mobile phone for the Solana network. Cardano developers have announced that the Vasil Hard Fork upgrade has been pushed back by a month to iron out a few minor bugs. Technology Facebook CEO Mark Zuckerberg has expressed that he wants to build a “creator economy” that will attract a billion people by the end of the decade. Tether has announced that it will roll out a sterling-backed stablecoin next month while the UK attempts to make London a world crypto hub. Business Coinbase is shutting down the professional branch of its trading platform, Coinbase Pro while bringing the professional trading features to Coinbase.com. Banking giant Citibank has announced that it has partnered with Swiss firm Metaco to develop a digital asset custody platform. Regulation The Ontario Securities Commission has taken enforcement action against the two crypto exchanges, Bybit and KuCoin, on charges of securities law violation and unregistered operations. SEC Commissioner Hester Peirce has stated that she does not support crypto company bailouts and that it is better to “let these things play out.” The incoming governor of the Philippines’ central bank is not a fan of cryptocurrencies and has said that these digital assets are based on the “greater fools theory.” NFT Global football megastar Cristiano Ronaldo has signed an exclusive NFT partnership with the leading crypto exchange, Binance for enhanced fan experiences. Despite the lack of activity in the NFT space due to the market downturn, Uniswap has acquired the NFT marketplace aggregator Genie for an undisclosed sum. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
54 days agocryptodaily
dYdX Parts Ways With Ethereum, To Launch Its Own Standalone Blockchain
dYdX has announced its intention to leave Ethereum, making the announcement in a blog post on its website. After leaving Ethereum, the protocol will focus on creating its own chain in the Cosmos ecosystem. Against this backdrop, derivative DEXs are still figuring out the best way to structure their protocol. A New Standalone Blockchain, The dYdX V4 dYdX believes that migrating away from Ethereum and working on its standalone blockchain would allow the protocol to be significantly more efficient and increase its processing capacity by at least 10. The blog post revealed that the new chain would also not feature gas fees, instead featuring only trading fees. The team at dYdX also expects the move to improve the protocol’s decentralization and processing capacity significantly. The new Layer-1 blockchain will become the new home of the DYDX token, currently trading at just under $1.50. The protocol also took to Twitter to announce the news, tweeting out, “We’re excited to announce that dYdX V4 will be developed as a standalone Cosmos-based blockchain!” More Flexibility dYdX V4 marks the full decentralization of the dYdX protocol. The blog post also highlighted that having a standalone chain on Cosmos would allow the platform that little bit of extra flexibility when it came to features and fees. The blog post stated, “A major benefit of Cosmos is that the chain can be developed to suit the exact needs of the dYdX network. One application of this is that traders would not pay gas fees to trade, but rather pay fees based on trades executed similar to dYdX V3 and centralized exchanges. These fees would accrue to validators and their stakers.” The Need To Scale dYdX’s blog post also highlighted the problem with Layer-1s and Layer-2s that the team could develop on, stating that none of them could handle the throughput required to run a first-class order book and match engine. The existing dYdX product is capable of processing around 10 transactions per second, along with 1000 order places/cancellations per second. The team, at one point, did consider the option of another trading model, such as an AMM or RFQ system. However, it ultimately came to the conclusion that an order book-based protocol was essential to give the trading experience that institutions and professional traders demand. The team explored existing off-chain order book systems but were not satisfied, leaving them with no choice but to create a decentralized, off-chain network to enable the running of the order book. While most decentralized exchanges continue to use liquidity pools and automated market makers (AMM) to fill orders, dYdX will continue its use of a traditional order book model, even with the new version of their platform. The team at dYdX believes that order books that directly match a buyer with a seller are better suited to handle large, institution-sized transactions. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
55 days agocointelegraph
dYdX moves to Cosmos-based blockchain for V4 to optimize decentralization and trading flow
The protocol chose Cosmos as a best fit as it would not only need decentralization but also the ability to handle and scale 1,000 orders per second.
55 days agocoindesk
Crypto Exchange dYdX to Start a Standalone Blockchain
The layer 1 blockchain will be built in the Cosmos ecosystem.
60 days agocoindesk
DeFiance, Avalanche, Dydx Distance Themselves From Three Arrows Capital Drama
The firms said operations will continue as usual as the crypto community assesses contagion risks related to Three Arrows Capital.
68 days agocryptodaily
LINK Surges To Four-Week High After Chainlink Reveals Updated Staking Roadmap
The LINK token hit a four-week high following Chainlink unveiling the details and the roadmap of its upcoming staking program, set to launch in the second half of 2022. Holding LINK tokens will strengthen the network’s cryptographic security and allow holders to earn 5% APY. Soon after the announcement, the LINK token surged, rising by nearly 17% and going from around $7.77 to $9. As of press time, it's trading around $9.16. Chainlink Economics 2.0 The upheaval in the price of LINK can be attributed to the publication of its updated roadmap that introduces staking to the protocol. Staking would incentivize the proper operation of the network by enabling a system of rewards and penalties. The roadmap was first defined in April 2021 in a whitepaper. A teaser followed the whitepaper in January 2022. Staking on Chainlink would allow users in the ecosystem to earn passive income and give them the ability to increase the security guarantees of oracle services by backing them with staked LINK. We can see the program’s initial implementation, titled VO.1, launched as early as the second half of 2022. The launch will mark the beginning of Chainlink Economics 2.0. Chainlink stated in a tweet, “Staking marks the start of #Chainlink Economics 2.0, a new era for the long-term security and sustainability of oracle networks. In this update, we define the long-term goals, roadmap, and initial implementation of staking in the Chainlink Network.” Chainlink also spoke about the integration of Chainlink oracles with leading crypto applications and the increase in oracle security, stating, “The increase in oracle security and user assurances brought about by staking will be key in helping the multi-chain smart contract economy scale to eventually secure multi-trillion-dollar markets across major global industries.” Similar Approach To Chainlink Price Feeds Chainlink also stated that the rollout of the staking mechanism would follow how the Chainlink price feeds were deployed. The price feeds started with a single price feed for ETH/USD, which was operated by three oracle nodes. From these humble beginnings, it grew to support almost a thousand price feeds which are powered by over 50 node operators across blockchains and layer-2 solutions. Chainlink and its price feeds are trusted by some of the most popular DeFi protocols such as Compound, dYdX, Aave, Synthetix, and more. Just last week, Solana too added support for Chainlink price feeds. Goals Of The Staking Program Chainlink has outlined four clear goals that it expects to achieve with its staking program, with the protocol stating that these are long-term goals, with details of staking subject to change in the near future. The stated goals of Chainlink staking are Increasing the crypto-economic security and user assurances of Chainlink services. Enabling greater participation of the community in the Chainlink network. Generation of sustainable rewards from long-term use. Empower node operators by giving them access to high-value jobs through staking. The goals listed above were already outlined in the updated whitepaper 2.0. Details Of Staking Rewards The initial staking pool will have 25 million LINK and will look to expand to 75 million LINK in the months following the launch. To ensure participation from the larger community and a fair entry mechanism, the VO.1 staking pool will be capped in size. Chainlink gave its reasoning behind this decision, stating, “This entry mechanism will aim to prioritize long-term token holders, who are most likely to actively participate in the alerting mechanism.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
84 days agocryptodaily
Crypto Market Crash: Can Tron (TRX), Waves (WAVES) and Sanzooz Finance Still Fetch You Profits?
Since hitting $3 trillion in November 2021, the total crypto market cap has dropped considerably to around $1.3 trillion at the time of writing. That is over 50% fall since then. The crash, coupled with high-interest rates in alternative markets like real estate, has led many investors to reconsider traditional investment portfolios. Meanwhile, some cryptocurrencies have shown resilience despite the market downturn. These coins include Tron (TRX), Waves Tech (WAVES), and potentially, Sanzooz Finance (SZFT). We’ll see why these coins could continue to demonstrate profitable returns for investors. Tron (TRX): Capitalizing on Ethereum’s High Network Fees Tron is a network that supports cross-chain transactions through its mainnet bridge. It was launched in 2017 with a vision of disrupting smart contracts distribution by offering highly scalable dApps and tokens on its blockchain. It currently boasts over 91 million accounts running on its blockchain and over $3.1 billion in completed transactions. Tron’s native currency, TRX, has shown positive market movements in recent months. Sometimes moving in the opposite direction of some of its counterparts. TRC20, one of Tron’s token standards supporting cross-chain transactions, has been a preferred choice among USDT traders. Reason being that it offers low-cost transactions than the ERC20 standard tokens. Another reason for Tron’s market surge is the high demand for its products and native DAO-run cryptocurrencies like BTT and TRX. With that in mind, investors have shifted their attention to Tron and TRX, following the exposure granted to it through TRC20-based tokens. Waves Tech (WAVES): Project Disrupting The dApp Space Waves Tech was launched in 2016 to support and build blockchain systems and applications aimed at reducing carbon footprints on our planet. Waves Tech is a community-driven and open-source network for decentralised projects, adopting the proof-of-stake consensus algorithm to validate transactions on its blockchain. WAVES is the native crypto on Waves Tech that also powers up-and-coming projects running on its blockchain. Although down significantly since reaching an all-time high of $62.36 in Q1 2022, the token coin could gradually rise in the future, which is a huge plus for coin holders who bought at that point. WAVES still show strong “greed” on the Fear and Greed Index (FDI) chart. And may start to soar. Sanzooz Finance (SZFT): DeFi Platform With a Difference Sanzooz Finance is a prospective DeFi protocol with many exciting offerings. It will be powered by its utility token SZFT, backed by artificial assets (aka derivative contracts) on the blockchain. Sanzooz Finance’s whitepaper confirms the project will focus on building DeFi lending and borrowing protocols with advanced algorithms. Interest rates and price adjustment protocols will also be automated and handled with advanced algorithms. Aside from the DeFi lending proposition, Sanzooz Finance will also feature DEX to trade derivative contracts easily and collateralize the SZFT token for altcoins or alternative futures contracts. Investors will earn rewards when they stake the SZFT token on the DEX and earn the voting rights to Sanzooz Finance’s DAO governance protocol. In addition to the rewards, holders will get shares of fees generated on Sanzooz Exchange and DEX. A handful of decentralised exchanges (DEXs) offer exclusive futures and derivative trading—a popular platform being dYdX. Sanzooz Finance’s DEX will be the first of its kind to extend the protocol to feature more assets on its network. With a vast number of use cases for decentralised trading on Sanzooz Finance, the price of SZFT will soar, and only early investors will enjoy all the benefits that come with holding the token at this early stage. For More Information on Sanzooz Finance: Presale: https://sale.sanzooz.finance/register Website: http://sanzooz.finance Telegram: https://t.me/Sanzooz_Finance Twitter: https://twitter.com/sanzooz_finance Instagram: https://www.instagram.com/sanzooz.finance Disclaimer: This is a sponsored press release, and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice
97 days agocointelegraph
dYdX releases an app: Why haven't more DeFi protocols followed suit?
Perpetual contract trading platform dYdX has launched an app for users outside of the U.S. that will offer the same functionality as its website.
111 days agocryptodaily
0x Labs Closes $70m Series B, Set To Expand Web3 Core Exchange Infrastructure
0x Labs, the firm behind blockchain infrastructure development protocol 0x, has announced that it has closed a $70 million Series B in an investment round led by Greylock, a key industry player in blockchain project investments. The recently closed Series B funding round also saw the participation of Pantera Capital, A.Capital, Jump Capital, Sound Ventures, OpenSea, Coinbase, Brevan Howard, Reid Hoffman, and Jared Leto. According to 0x Labs, the newly injected funds will be used to expand their team and its product and service offerings. 0x Labs has previously launched Match, a token search engine, alongside the 0x API which provides multi-chain aggregated liquidity as a service. 0x Labs has also developed the 0x Protocol, a community-owned, global backbone serving decentralized exchanges in the growing DeFi sector. "0x Labs helps businesses eliminate the complexity of accessing decentralized markets across all layers of the Web3 exchange stack. We provide solutions that can be used to easily incorporate exchange functionality for all tokenized assets, including cryptocurrencies, DeFi tokens, and NFTs, at the best prices and with the lowest transaction costs. By using 0x technology, businesses will have more time to focus on what matters: their product," shares 0x Labs co-founder and co-CEO Amir Bandeali. The 0x protocol and infrastructure suite currently has support for major blockchains such as Ethereum, Polygon, Avalanche, Fantom, BNB Chain, Optimism, and Celo. The protocol also has several integrations across prominent decentralized wallets and applications such as MetaMask, Coinbase' Wallet and NFT platform, Polygon Wallet, Brave's built-in wallet for its browser, dYdX, Zapper, Zerion, and Shapeshift. According to 0x Labs, their team's vision is to build a tokenized world "where all value can flow freely." The 0x infrastructure suite, alongside the integrations for its protocol, has served over $157 billion in tokenized value across multiple blockchains, processing over 43 million trades for more than three and a half million users. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
115 days agocointelegraph
Finance Redefined: Hacker bungles DeFi exploit, dYdx's decentralization goals, and more
DeFi space saw the resurgence of Andre Cronje nearly a month after his departure announcement while dYdX has pledged to go fully decentralized by the end of the year.
117 days agocointelegraph
Derivatives exchange dYdX to become '100% decentralized by EOY'
dYdX said that it is looking at full decentralization to offer its users advantages of DeFi that centralized services can’t.
147 days agocryptodaily
DeFiance Founder Loses Rare Azukis In Hot Wallet Attack; Is This North Korean Hacker Group Responsible?
The attack targeted DeFiance founder Arthur Cheong’s hot wallet, from where the hacker stole several NFTs, wrapped Ether and other tokens, cumulating in losses worth $1.6 million. Not Even Seasoned Vets Are Safe It looks like crypto hackers are getting braver and greedier day by day, constantly testing the waters of how much higher they can hit. The latest high-profile target of such an attack is DeFiance Capital founder Arthur Cheong, who lost millions of dollars worth of assets in a hot wallet attack. News of the hack spread like wildfire on Twitter and caused a stir among the community, with several individuals expressing their shock over such a high-profile target. Self-custody of crypto-assets and their security have always been a hot topic due to the growing number of cyber-criminals aiming higher and higher on the crypto ladder. Assets Stolen The hackers mainly targeted Arthur’s NFT collection, with over 78 different NFTs being stolen from five collections, mainly “Azukis.” Other assets from his portfolio that were targeted and stolen include 68 wrapped Ethers (wETH), 4,349 staked DYDX (stkDYDX), and 1,578 LooksRare (LOOKS) tokens. Once the hackers gained control of the assets, they were almost immediately put up for sale on the OpenSea marketplace. The hacker’s wallet had accumulated around 545 ETH, worth around $1.6 million. Cheong’s Twitter Thread Gives Context Cheong himself expressed his frustration, tweeting, “Ok it's a private key/seed phrase compromise since this little s–t is still transferring some token out” He followed it up soon with further tweets commenting that he would not depend on hot wallets to store his assets anymore. A hot wallet is always connected to the network and is not as safe as a hardware wallet, also known as a cold wallet, since it is not connected to the network. However, Arthur believes that the root of the breach lies either in a compromised private key for a hardware wallet or a security breach that happened during an onchain transaction. He tweeted that he had mostly stuck to using a hardware wallet on his PC till he started trading NFTs more regularly. He has followed up his comments by tweeting that he believed the hackers to be from the notorious Lazarus Group, which is a North Korean hacker group that was accused of stealing $1.3 billion worth of crypto. “Have strong evidence to believe this is the same group of hackers that exploited BZX, Hugh, MGNR and myself. The infamous Lazarus group.” Arthur has also addressed the hackers directly, claiming that they have messed with the wrong person. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
201 day agocryptodaily
SynFutures Cumulative Trading Volumes Hits $3 Billion, Challenging the dYdX Market Dominance 
SynFutures, one of the leading decentralized derivative exchanges, announced on January 27th that it has hit the $3 billion mark in cumulative trading volume. This is a significant milestone for the platform, which now touts over 55,000 users according to metric analysis from Dune Analytics. The new record high in SynFutures trading volumes comes four months after the platform debuted its V1 open beta, with V2 set for launch in a few months. As the crypto market continues to grow, decentralized derivatives are becoming one of the most sought instruments. While pioneer exchanges such as dYdX and Synthetix have had their fair share of success in this market, they are yet to maximize the underlying potential of decentralized crypto derivatives. This is because of their existing limitations in listing specific assets or trading pairs, ultimately denying crypto traders some market opportunities. Unlike its predecessors, the SynFutures derivatives trading platform features a wide range of assets, including large-cap cryptocurrencies, altcoins, indices, gold and any other asset that can be synthesized into a decentralized derivative instrument. Traders who use this platform have access to over 150 listed pairs; additionally, one can leverage the SynFutures Synthetic Automated Market Maker (sAMM) to list a single asset trading pair within two clicks. Though still in its V1 open beta, SynFutures is proving to be a serious competitor of the dYdX protocol in the decentralized crypto derivatives market. As it stands, dYdX leads the pack with around 61,500 users; however, most of the volumes traded on this protocol come from a few addresses. On the other hand, the volumes on SynFutures are more distributed, with the top five traders accounting for less than 5% of the total trading volumes. Commenting on the $3 billion trading volume milestone, SynFutures Co-founder and CEO Rachel Lin expressed optimism, noting that, “$3 billion in cumulative trading volume is a good starting point, and we believe that behind the number, we have good quality traction and the potential for future growth, as well,” “We’re excited to ignite the next phase of expansion and provide even more opportunities for our users to get involved and engage with our ecosystem,” added Lin. With SynFutures V2 scheduled for launch in the coming months, the platform is set to enhance the user experience through a one-click trading function. The exchange will also expand its product suite to include Coin-Margined Futures and NFTures; these will be the pioneer derivative instruments that enable traders to take long or short positions based on individual or baskets of NFTs featuring several assets. Currently, the SynFutures platform is available on EVM compatible chains, including Ethereum, BSC, Polygon and Arbitrum. They plan on scaling to non-EVM compatible chains such as Fantom, Near and Avalanche in the course of 2022. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
213 days agocointelegraph
Finance Redefined: Vitalik bearish on cross-chain, dYdX decentralizing, Jan. 7–14
Vitalik Buterin outlined his views on a cross-chain blockchain world, dYdX announced plans for full decentralization in 2022, and Near Protocol raised $150 for Web3 tech — all coming to you in this week’s Finance Redefined.
216 days agocointelegraph
dYdx outline plans for full decentralization in late 2022
The blog post prompted participants of the platform to “trust code instead of corporations” in their pursuit of decentralization.
249 days agocointelegraph
AWS outage hits dYdX raising concerns over decentralization
Traders could do nothing but wait on Dec. 7 when dYdX went down along with Binance.US and Coinbase due to an AWS problem.
250 days agocryptodaily
Massive AWS outage highlights the need for true decentralisation
Yesterday’s AWS outage drove many centralised exchanges to a standstill. The biggest crypto exchanges such as Binance and Coinbase were put off line, along with many others. This begs the question of, don’t we need more decentralisation, and can crypto provide this? Amazon Web Services (AWS) were down for at least half a day yesterday, causing chaos across the internet. The crypto industry was also hit hard. With AWS providing cloud services to around one third of the entire internet, its monopoly appears to show the dangers of such centralised power. According to an article on Business Insider India, even DyDx, an exchange dedicated to becoming completely decentralised, was put out of action due to still having too much dependency on the centralised servers provided by AWS. DyDx tweeted an admission later that highlighted the problems they were experiencing with their reliance on AWS’ centralised services. It really can’t be emphasised how important decentralisation is for the future of cryptocurrency and blockchain. We already have Bitcoin, which is owned by millions across the globe, which offers a true alternative to central bank centralised mismanagement. There is also much discussion around the metaverse, which if it is to benefit people as a whole, allowing them to retain autonomy over their identity and interactions, will have to be totally decentralised and avoid the heavy hand of corporations such as Facebook (Meta). Allowing the autonomy of much of the cryptoverse to be at the whim or failure of centralised corporations is just not an option. Crypto has attracted the best brains and innovators on the planet - they will need to come together and work on this conundrum. The future of crypto, where people have complete control over their own finances, will depend on it. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
258 days agocryptodaily
Hashed Launches $200 Million Venture Fund to Support the Growth of Web3
Almost a year after launching its $120 million Venture Fund I, South Korean firm Hashed is doubling down on Web3 growth, raising $200 million for its Hashed Venture Fund II in support of the blockchain ecosystem. Bridging Ecosystems in the US and Asia A blockchain-focused investment firm with offices in Seoul and Silicon Valley, Hashed aims to help unlock the potential of the decentralized economy by bridging ecosystem dApps, games, tools, and infrastructure in both the United States and Asia. Its latest venture fund is indicative of growing institutional interest in Web3 development, as the industry rapidly matures toward the mainstream. Exclusive partners joining the new fund include some of the largest Korean IT companies, multi-discipline conglomerates, and globally renowned investment firms. Commenting on the launch, Hashed CEO and Managing Partner Simon Kim said: “As we take our second step in solidifying our position in the global blockchain and technology sector, we are excited that our team’s vision is coming into reality. “Just a few years ago, people doubted whether we would be able to transition our offline experience to online, but now people no longer question the value of digital assets such as NFTs and related products to be used in the metaverse. “This change in our perception indicates that we have been right, and we hope to further exercise our influence in bringing about the kind of future we have imagined that is inclusive and equitable for all.” New Partners Announced In conjunction with the Venture Fund II raise, Hashed revealed that two long-time members, Sean Hong and Baek Kim, have become partners at the firm. Sean Hong ​​previously held the role of Senior Manager at Paratus Investment, a private equity fund focused on late-stage biotech. He has since served as Hashed’s Chief Financial Officer, in which role he oversaw investor relations, as well as legal and financial affairs during the company’s expansion. Baek Kim, meanwhile, is a former software engineer at Amazon Web Services. At Hashed, Kim led global investments, working on its Metaverse and Web3 ecosystem portfolio including Axie Infinity, Mirror Protocol, Set Labs, ZKSync, and The Sandbox. Focusing on Web3 Hashed is one of the earliest blockchain-centric investors in several smash-hit projects, among them Terra, MakerDAO, Synthetix, and Kyber. As well as providing direct financing, the company runs the Hashed Lounge co-working and offline meet-up space, which is dedicated to early blockchain projects. Its Venture Fund I included the likes of dYdX, which became one of the largest decentralized exchanges by volume globally; Recur, which raised $50 million during a funding round led by Mets owner Steve Cohen; and Mythical Games, recently valued at a cool $1.25 billion. Hashed was also an early investor in several Asian tech giant projects such as Kakao’s Klaytn and Line’s LINK blockchain. Additional co-investments with SoftBank, including Republic, NFTBank, and Chai, helped bring its overall venture portfolio to over 30 projects. Hashed’s bumper new fund will continue to prioritize Web3, with projects focused on defi, NFTs, and blockchain-based gaming likely to be the cynosure of the company’s focus. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About dYdX

The live price of dYdX (DYDX) today is 2.027 USD, and with the current circulating supply of dYdX at 65,569,295 DYDX, its market capitalization stands at 132,907,454 USD. In the last 24 hours DYDX price has moved -0.0809 USD or -0.04% while 26,903,008 USD worth of DYDX has been traded on various exchanges. The current valuation of DYDX puts it at #208 in cryptocurrency rankings based on market capitalization.

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dYdX Price2.027 USD
Market Rank#208
Market Cap132,907,454 USD
24h Volume31,016,046 USD
Circulating Supply65,569,295 DYDX
Max Supply1,000,000,000 DYDX
Yesterday's Market Cap138,468,930 USD
Yesterday's Open / Close2.1927 USD / 2.1118 USD
Yesterday's High / Low2.2564 USD / 2.0765 USD
Yesterday's Change
-0.04% ( 0.0809 USD )
Yesterday's Volume26,903,008 USD
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