
Dreambound
@dreambound
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The derivatives DEX landscape has evolved with dYdX V4’s migration to the Cosmos-based chain, enhancing its market position. Post-migration, dYdX V4’s 30-day trading volume reached $19 billion by February 2024, surpassing V3’s $11.8 billion, capturing a significant share in the perpetuals market. Its fee income stood at $3.07 million, nearly matching V3’s $3.02 million, reflecting strong adoption. The $20 million Launch Incentives Program, distributing $DYDX over six months, effectively incentivized market makers, with 20% of rewards allocated to those exceeding 0.25% maker volume. This tightened spreads and boosted liquidity, as Chaos Labs’ wash trading detection ensured fairness. dYdX V4’s staking rewards in USDC, with a 15.13% APR, further attracted over 11,071 stakers, solidifying its lead in the derivatives DEX race as of April 2, 2025. 0 reply
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