DyDx
dYdX, first established in 2017 on Ethereum, has since transitioned to a Layer 1 blockchain built on Cosmos SDK, introducing dYdX v4 a.ka. the dYdX Chain. This iteration features an off-chain, decentralized orderbook, eliminating gas fees for order placement. Embracing Cosmos SDK for scalability and decentralization, dYdX enhances its governance, fee structure, and token utility, maintaining its lead in perpetual contracts with significant daily trading volumes and community-driven development.
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