dYdX Founder: Hoping Cosmos’ influence doesn’t overshadow dYdX

dYdX founder hopes Cosmos won't overshadow dYdX.

Since announcing its move to the Cosmos ecosystem, dYdX has received attention from both the Ethereum and Cosmos ecosystems. Some Ethereum OGs may not understand why such a popular application would migrate to the Cosmos ecosystem.

However, perhaps due to excessive attention, dYdX has also brought some interference or annoyance. dYdX founder Antonio expressed dissatisfaction directly on Twitter.

On dYdX v4, you can “deposit” using any major wallet from any major chain. No “Cosmos”, “Bridge” or any other nonsense. ”

from: https://twitter.com/AntonioMJuliano/status/1664721673025617924

That is to say, from dYdX’s perspective, it is more important for everyone to focus on the application itself, such as users being able to deposit, rather than paying attention to what related technologies are being used behind the scenes.

Twitter user Jim Yang commented on this:

from: https://twitter.com/proofstake/status/1604907391585509376

Jim also quoted his statement on the value of the Cosmos ecosystem in the past, namely:

  • Open source value

  • Decentralized value

  • Autonomy/Sovereignty

  • IBC

  • PMF value

  • Innovation value

  • Long-term value for the community

Community user Travis also commented interestingly:

from: https://twitter.com/tknox35/status/1664722955304067074

Twitter user XoXo_BubbleButt joked:

“Use the cosmos SDK, but ‘do not want the dYdX brand to be associated with cosmos’, a bit like Sprite being produced by Coca-Cola?”

But I think my favorite comment in the entire thread is this:

This is also my personal opinion. The Cosmos ecosystem narrowly refers to the chains developed using the Cosmos SDK, but in essence, they have little to do with the truly large Cosmos ecosystem, not to mention Binance Chain and Crypto.org, which actually do not want to play with Cosmos. So they may be part of the Cosmos ecosystem, but not the IBC ecosystem. The IBC ecosystem is the future, which has grand narrative power.

Through the criticism of dYdX founder, we can also make some guesses from the side, such as for dYdX currently, the more important thing may be the Cosmos SDK itself, and the relevance to IBC is not very prominent in the first stage at least.

Actually, this can also be understood. Many Cosmos ecological projects still focus on EVM compatibility. As for IBC, it is an additional benefit, such as the most direct way is to easily send assets to Osmosis for the entire Cosmos ecosystem to access and consume.

From the information currently revealed, Sei may be more native to Cosmos, which is evident in many places, such as when you look at Sei Network’s partners, a large proportion of them are Cosmos ecological chains using IBC, rather than other ecological chains as the main cooperation through cross-chain bridges. Of course, on the cross-chain bridge, the current test network is still EVM compatible, such as in the docking with Polygon and Solana.

It is natural for dYdX to prioritize EVM compatibility since it migrated from Ethereum. That is to say, the main wallet of dYdX in the future is likely to be Foxy, not Keplr.

After all, dYdX needs to solve the problem of personalized sovereignty and do fine optimization at the technical level, which is the main advantage of Cosmos SDK.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

Center absence: history, current status and prospects of atomic exchange and decentralized trading platforms

On July 30th, Liquid Network officially announced that Tether (USDt) has settled on the Liquid side chain, which mean...

Market

Get Ready for a Crypto Carnival - New Listings and Delistings!

Check out our latest rundown of notable digital asset listings, delistings, and trading pair updates from crypto exch...

Blockchain

The volatility product "Turtle Bunny Card" is available, is the coin derivative a devil or an angel?

On May 30th, Dr. George Cao, founder and CEO of BitMax.io, visited the ChainNode live room and talked to Babbitt edit...

Blockchain

Bakkt also can't impact traditional cryptocurrency futures trading? - Coin, OKex, Matcha, and the same station

Text | Mutual Chain Pulse · Liang Shan Hua Rong Mutual chain pulse: Although Bakkt has not been able to detonate...

Blockchain

Alameda Engineer SBF stole my life savings

As an engineer at Alameda Research, my entire life savings were stolen by my former boss, Sam Bankman-Fried (known to...

Blockchain

Research Report | Exchange Industry 2019 Q1 Report

In the first quarter of 2019, the digital clearing exchange industry changed dramatically. After a long bear market i...