Research Summary
The report discusses the strategic decision of dYdX to adopt the Cosmos stack to achieve full decentralization and superior performance. The report highlights that dYdX’s trading volume significantly surpasses its DeFi counterparts and is comparable to Centralized Exchanges (CEXs). However, it falls behind major derivative CEXs like Binance, OKX, Bitget, and Bybit. The report identifies this as a significant growth opportunity for dYdX.
Actionable Insights
- Strategic Adoption: dYdX has strategically chosen the Cosmos stack to achieve full decentralization and superior performance.
- Performance Comparison: dYdX’s trading volume significantly surpasses its DeFi counterparts and is comparable to CEXs.
- Growth Opportunity: dYdX has a significant growth opportunity in capturing the market share from major derivative CEXs like Binance, OKX, Bitget, and Bybit.
