While Bloomberg shared rumors that dYdX might sell trading technologies related to its V3, the company informed that “alternative strategic explorations” are indeed under consideration. What are the details?
dYdX is reportedly considering selling some of its V3 technologies
On Tuesday, Bloomberg reported rumors that the teams of dYdX could separate from “some of its derivatives trading software».
In this case, it is the V3 of the decentralized futures trading exchange that would be concerned. According to sources close to the case who have remained anonymous, 2 names would participate in the discussions: Wintermute and Selini Capital.
How to trade futures on dYdX?
A few hours after the article was published, dYdX Trading has almost confirmed this rumor by means of a press release, while remaining sufficiently evasive so as not to reveal too much before the conclusion of a possible agreement:
A message from dYdX Trading Inc. pic.twitter.com/i8jrCfkvge
— dYdX (@dYdX) July 23, 2024
Try dYdX Now: Crypto Traders' Favorite DEX!
Thus, some “Alternative Strategic Explorations Regarding V3 Technology” are indeed on the agenda. The funds that could result from a potential sale would then make it possible to promote the developments of dYdX Chain :
dYdX Trading is fully committed to dYdX Chain. While v3 was a success, we believe dYdX Chain better represents dYdX Trading Inc.’s vision and the ethos of DeFi, and we will dedicate ourselves to developing this software. Considering strategic alternatives for v3 technology is a way to clarify our focus to enable us to make dYdX Chain software as powerful as possible.
However, dYdX clarifies that these discussions do not include the smart contract present on Ethereum (ETH) and that a modification of it should be submitted for approval by DYDX token stakers.
For its part, the DYDX is trading at $1.34 per unit, down 1.7% over 24 hours.
To go further — dYdX: how to generate passive income with staking and secure the dYdX Chain?
Tuesday, the website of this same V3 encountered a problemwith dYdX teams indicating that it had been compromised, posing a risk of loss of funds. The situation has since returned to normal.
Join the Cryptoast community on Discord
Sources: Bloomberg, dYdX
The #1 Crypto Newsletter 
Receive a daily crypto news recap by email 
What you need to know about affiliate links. This page may feature investment-related assets, products, or services. Some links in this article may be affiliate links. This means that if you purchase a product or sign up for a site from this article, our partner pays us a commission. This allows us to continue to provide you with original and useful content. There is no impact on you and you can even get a bonus for using our links.
Investing in cryptocurrencies is risky. Cryptoast is not responsible for the quality of the products or services presented on this page and could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a good or service highlighted in this article. Investments related to crypto-assets are risky by nature, readers must do their own research before taking any action and only invest within the limits of their financial capacities. This article does not constitute investment advice.
AMF recommendations. There is no guaranteed high return, a product with a high return potential implies a high risk. This risk-taking must be in line with your project, your investment horizon and your ability to lose part of these savings. Do not invest if you are not prepared to lose all or part of your capital.
To go further, read our Financial Situation, Media Transparency and Legal Notices pages.
Since 2021, I have devoted my free time to seriously training myself on cryptocurrencies in order to acquire as much knowledge and credibility as possible. I often have the opportunity to conduct interviews with influential figures in the blockchain industry. I also conduct in-depth analyses on Web3 themes to offer exclusive content to Cryptoast readers.
Vincent Maire
1267 articles
![[REPORT PREVIEW] Malign Interference and Crypto: How Crypto Transaction Tracing Can Expose and Disrupt Malign Influence Efforts](https://www.chainalysis.com/wp-content/uploads/2024/07/blog-header-1.png "[REPORT PREVIEW] Malign Interference and Crypto: How Crypto Transaction Tracing Can Expose and Disrupt Malign Influence Efforts")