Ethereum layer-2-based crypto derivatives trading platform dYdX has vowed to become “100% decentralized by EOY” via the protocol’s v4 update.
At present, only certain components of dYdX are decentralized including its Ethereum smart contracts, governance and staking. However, its “order book and matching engine” are managed by dYdX Trading Inc. — the team that developed the platform.Andre Cronje, former Fantom Foundation technical adviser and Yearn.finance founder, resurfaced on Monday via Medium after announcing hislast month.
The top highlight in the post is the phrase: “Crypto culture has strangled crypto ethos.” According to Cronje, he has a “disdain” for crypto culture but a “love” for crypto ethos. He explained that the culture, which prioritizes “wealth, entitlement, enrichment and ego,” has suppressed the principles of “self-sovereign rights, self custody and self-empowerment.
The problem with the protocol was seeded by suspicious governance proposals BIP-18 and BIP-19, which were issued on Saturday by the exploiter, who asked for the protocol to donate funds to Ukraine. However, those proposals had a malicious rider attached to them that ultimately created the sinkhole of funds from the protocol, according to smart contract auditor BlockSec.
The weekly performance of several tokens saw a bullish surge in double digits, barring a few tokens that remained in the red. In the top-100 DeFi list, 0x was the biggest gainer with a surge of 22.5% over the past week, followed by PancakeSwap (