On August 3rd, the decentralized derivatives exchange DYDX launched the governance token DYDX and airdropped to old users who had interacted with their announcement. One month later, DYDX announced that at 23:00 on September 8th, the transfer restrictions on the governance token DYDX will be lifted. Users can receive relevant rewards, including airdrops, which means that a total of 80 million DYDX will be used for airdrops for early users. Rewards and the first mining rewards.
Many investors believe that this airdrop of DYDX was to a large extent marks the arrival of the era of decentralized derivatives, and to a certain extent can promote the outbreak of the entire DeFi market again.
Since then, the outbreak of DYDX has become a "sweet rice cake", and major trading platforms are vying to go online.
On September 9th, DYDX launched on ZT trading platform and opened the DYDX/USDT trading pair. The strong demand in the secondary market has pushed DYDX up to 30USDT. Although the currency price has subsequently fallen, it has remained at around 12.6USDT as of the time of writing.
Regarding the argument that the official launch of DYDX proposed by investors has brought the era of decentralized derivatives and has become the engine that promotes the outbreak of the entire DeFi market again, ZT Investment Research Institute has also conducted a careful research.
ZT Investment Research Institute believes that the market structure of basic sectors such as stable coins, lending, and DEX has been highly stable, starting relatively late, and the derivatives sector with relatively small business magnitude still has great potential. At a time when the growth rate of DeFi users is gradually slowing down, derivatives trading is expected to bring new incremental users and introduce more living water to the market. When the growth rate of the user group increases, then DeFi's prosperity again is just around the corner.
Objectively speaking, the current leading project in the derivatives sector with the most comprehensive strength is DYDX. DYDX has obvious advantages in asset custody and transparency. It can avoid some common concerns of users about centralized platforms, and realize the upgrade of the two key attributes of "security" and "trustworthiness" from the underlying architecture.
And dYdX's investment background is also quite luxurious. In June of this year, DYDX completed a $65 million Series C financing. Paradigm led the investment, and many investment institutions participated in the investment. The original investment institution a16z continued to follow up the investment. With the support of top-level institutions such as Paradigm and a16z, DYDX can get valuable development suggestions and cooperation opportunities for leading projects compared to other projects.
ZT Investment Research Institute believes that with the official circulation of dYdX, DYDX will gradually transition towards becoming a self-sustainable agreement that is completely managed by the community.
As we all know, ZT Investment Research Institute is always in front of the high potiential projects, and has never been inferior in capturing DeFi, Polkadot, NFT, SOL and other ecological huge potential projects.
ZT Investment Research Institute revealed that in fact, it has been paying attention to the development of the decentralized derivatives market for a long time. Currently, ZT has launched multiple on-chain derivatives trading agreements, such as INJ and PERP.
Now that DYDX has entered a brand-new development cycle and has become the most eye-catching player on the derivatives track at this stage, how will ZT deploy the derivatives track in the future? It is worth keeping an eye on it!
