icon_install_ios_web icon_install_ios_web icon_install_android_web

dYdX Foundation CEO Charles dHaussy: dYdX leads in liquidity and community governance | FAT Awards 2024

تجزیہ3 ہفتے پہلے更新 6086cf...
15 0

On September 16, the annual FAT Awards 2024 ceremony was grandly opened at the Conrad Singapore.

FAT is a ranking ceremony + summit forum brand founded by Odaily Planet Daily in 2020, which aims to reward the leaders and innovators of Web3 and the crypto industry, and focus on value paradigms and consensus moments. In 2024, when the crypto industry is changing with each passing day and narratives are recognized by the mainstream world, fresh narratives are surging, the ecology is flourishing, and high-quality projects are launched one after another, Odaily Planet Daily will once again start the FAT ranking selection and hold an offline ceremony.

At the event, dYdX Foundation CEO Charles dHaussy delivered a keynote speech. The following is the full transcript of Charles dHaussys live speech, edited and condensed by Odaily Planet Daily, enjoy~

dYdX Foundation CEO Charles dHaussy: dYdX leads in liquidity and community governance | FAT Awards 2024

dYdX protocol has high liquidity

dYdXs history dates back to 2018, and it later became one of the earliest Layer 2 protocols. Although dYdX only focuses on one type of transaction, our transaction volume has exceeded 1 trillion US dollars. Later, we decided to build our own chain and no longer rely on other peoples blockchains, which is why in December 2023, we launched the dYdX chain with other partners.

Thanks to the dYdX ecosystem and strong assets, we have reached our target trading volume in less than 1 month. According to current on-chain data, dYdXs trading volume is about 2.25 trillion US dollars. It can still accept other trading pairs, and there are currently about 140 active trading pairs on the chain, and other collaborators, which allows us to put forward more than 144 proposals and suggestions to promote the ترقی of the chain.

Developing our own chain doesn鈥檛 mean we鈥檙e isolated. We can connect to other chains, one of which is Solana, and we鈥檝e integrated all the markets that can be traded on Solana, and they can all be listed on dYdX, and there are now over 800 tradable markets on dYdX.

Because of the dYdX stack, any project that is not native and has been deployed on Solana can be listed on dYdX for free within 4 days, thanks to the dYdX governance mechanism. If you have a new project, you can tell the community that you want to be listed on dYdX for free. The community governance will then vote on the new project.

How we bring additional validity and liquidity to the dYdX chain

dYdXs monthly token unlocking is reduced by 75%, and we are also planning the next upgrade. There are many systems that classify themselves as DeFi. They also have DAOs, funding funds, and related activities. At the same time, they are also discussing with partners how to launch a chain like dYdX. For the existing dYdX, we are still DeFi, and there are many opportunities here.

Therefore, dYdX built a DAO for the purpose of grants, which was first launched in 2024 and allocated over $5 million in grants to areas such as community, marketing, protocols, integrations (with Keplr and Cosmos, etc.), and 47 companies that built with the dYdX chain are also among them. They are also giving back to the community – continuously bringing users and validators to the chain.

So dYdX is excited about this, and this is a phase of dYdX called dYdX Unlimited, where were pushing the amount of DeFi that should be built. And also being in this phase also means that if you want to list certain projects or proposals, it will speed up the building of dYdX.

The community will also vote next month. When users use dYdX to trade, they will be exposed to many chains in dYdX Infinity. Users can have a dedicated team to monitor different market behaviors and provide liquidity for them. Therefore, users can participate in the governance vote to decide whether transaction fees should be charged, and liquidity fees can also be charged separately.

This article is sourced from the internet: dYdX Foundation CEO Charles dHaussy: dYdX leads in liquidity and community governance | FAT Awards 2024

Related: Back to Bonding Curve, are we using it right?

Original author: Pzai, Foresight News The core of the iteration of the crypto market lies in the innovation of the token economy, and algorithmic innovation based on smart contracts has played a key role in the iteration of the past decade. The early extension of Bitcoin-based tokenization was relatively limited, and the relative lack of technology and narrative also became a certain constraint on the issuance of tokens at the time. When the smart contract ecosystem represented by Ethereum was still in its infancy, some people began to consider how to combine smart contracts with the token issuance model. As one of the earlier algorithmic innovations on the chain, Bonding Curve has had a profound impact on both token economy and token engineering. Therefore, this article seeks to discover the…

© 版权声明

相关文章

کوئی تبصرہ نہیں

آپ کو ایک تبصرہ چھوڑنے کے لیے لاگ ان ہونا چاہیے!
فوری طور پر لاگ ان کریں۔
کوئی تبصرہ نہیں...