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TradingGain-X
$DYDX
dYdX is a useful case study in how decentralized trading venues evolve. It moved from Ethereum-based infrastructure to its own Cosmos-based chain so it could run an order book for perpetuals. Control improved, but now it carries the cost of its own validator set and security. With perp DEX competition growing, trading activity and fee flow deserve more attention than headlines.
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