dYdX released V4 of its roadmap, aiming to become fully decentralized and governed by its community. Written by tomfarrencrypto
the fourth iteration of its roadmap detailing their intentions to evolve into an open-source, community-governed and fully decentralized exchange by the end of this calendar year.
The platform currently runs on a hybrid model whereby a portion of operations are decentralized, most notably staking and governance, while other components such as the off-chain orderbook and matching engine are managed by dYdX Trading Inc, alongside external support from a number of partnered centralized servers such as Amazon Web Services.
"There will no longer be central points of control or failure of the protocol", they stated, before continuing on to say that"all aspects of the protocol that can be controlled will be fully controlled by the community.”Decentralization is core to dYdX’s mission.
dYdX experienced a record-breaking year in 2021, emerging as one of the most prominent outfits built upon Ethereum, for which it utilizes its smart contract and Starkware zero-knowledge rollups.from its 64,306 eligible users, as well as the wider crypto community. Average customers who had traded between the values of $1,000 and $10,000 prior to the retroactive close-off date could claim 1,163 DYDX, equivalent to $16,561 at the time.
Following the airdrop, momentum surged for the project and was quantitatively epitomized when exchange for the first time in its history. As a consequence, the asset rose to an all-time high of $27.78 on Sept 30, however has now fallen almost 75% to a price of $7.20 amid a wider market correction.
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