dYdX To Direct Fees to Stakers, Taiwan Introduces Crypto Bill

Name: FS Insight
Price range: $$$

Oct 27, 2023

Author

Tom Couture ^AC

BTC -4.11% ETH 2.20% SOL -6.55%

Market Update U.S. equity indices are mixed today despite U-Mich 1-Year inflation expectations rising to 4.2% vs 3.8% expected, and consumer personal spending rising 0.7% MoM vs. 0.5% expected. The SPY is down 0.36% while the QQQ has risen 0.62%. Crypto markets are cooling off after a strong week, with $BTC (-1.65%) trading just below $33.6k and $ETH (-2.76%) trading around $1,750. Total crypto ETP and OTC assets under management jumped 6.74% to $31.7 billion in October, marking the first increase since July. Products tied to $SOL added 74.1% in value, rising to $140 million ahead of Solana Breakpoint. These numbers coincide with various crypto metrics discussed in our latest Crypto Strategy note, potentially signaling this rally has legs. Source: CCDatadYdX has successfully launched its v4 alpha mainnet, its own app-chain, marking a notable milestone for the decentralized derivatives platform. As part of v4, $DYDX gains enhanced utility as all protocol fees, including USDC trading fees and DYDX-denominated gas fees, will be distributed to network validators. The increased utility should incentivize users to stake their tokens, supporting a secure network without relying on token inflation. The fee distribution will be managed through the Cosmos x/distribution module, promoting

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