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Decentralized Exchange dYdX Migrates to Cosmos for Scalability and Customization

Decentralized exchange (DEX) dYdX has launched its V4 private testnet on Cosmos, with the aim of fully running on Cosmos by the end of September. The move away from Ethereum to the scalable blockchain platform comes as the capabilities of Ethereum were deemed insufficient to handle transaction volumes. dYdX allows for decentralized spot trading and trading on margin. A public testnet will be launched by the end of July. The move to Cosmos also attracted SushiSwap, which announced its migration after its acquisition of Cosmos-based trading platform Vortex Protocol last month. Other blockchain platforms were considered by the teams, but Cosmos was deemed the better option for providing customisation options for the blockchain. Founded in 2017 by Antonio Juliano, dYdX has around $341.5m in total value locked, according to DeFi Llama. 

(By Mattis Meichler)

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