dYdX to Develop Its Own Standalone Blockchain in Cosmos Ecosystem

StarkEx-based DEX dYdX announced that it will develop its own standalone blockchain in the Cosmos ecosystem, and expand dYdX V4 to it. dYdX team said that the new chain will feature a fully decentralized off-chain orderbook and matching engine, which can support low latency trading with extremely high throughput. $DYDX is expected to be the Layer1 token of the network, used for staking to validators as well as governance. The team plans to open source dYdX V4 by the end of 2022.