The DYDX token is an integral part of the dYdX Chain, a network focused on decentralized financial instruments (DeFi) and derivatives. After the transition from Ethereum, it underwent significant changes, gaining new functionality and expanding its scope. Meanwhile, Mallconomy is revolutionizing decentralized commerce through the V3 MallStar App. In addition, the network’s native token WOOT is currently available for presale, offering early adopters exclusive benefits and opportunities within the ecosystem.
DYDX: From Ethereum to Cosmos
On October 26, 2023, validators created the first block of the dYdX Chain network. DYdX has moved to operate its own blockchain in the Cosmos ecosystem, moving beyond its initial deployment on Ethereum.
The main Proof-of-Stake (PoS) token of the network, built on the Cosmos SDK and using the CometBFT consensus algorithm, was DYDX. Meanwhile, Its holders can delegate their assets to validators or become them, increasing the security of the blockchain, and also determine the direction of development of dYdX Chain by voting on key proposals – from updating node software to distributing community funds.
To migrate from Ethereum to dYdX Chain, a one-way bridge smart contract was created, within which ethDYDX tokens were locked, and the corresponding DYDX tokens on the dYdX chain were distributed among users. However, the process was fully automated and did not require any permissions, ensuring a smooth transfer of assets.
DYDX Staking and Security
The DYDX token allows holders to increase the security of the network using the staking mechanism, and they can either act as validators themselves or delegate assets to existing validators. Meanwhile, the design of the system helps strengthen the network’s defense mechanisms: as the number of tokens locked in smart contracts increases, a wide range of validators significantly increases the blockchain’s resistance to coordinated attacks.
DYdX distributes 100% of protocol fees to stakers in the USDC stablecoin instead of the native token. To date, holders have staked 148.83 million DYDX at 17.88% APR.
Mallconomy Unveils Decentralized Commerce
Mallconomy is more than just a buzzword; it’s a visionary approach to commerce that leverages decentralized technologies to reshape the way we purchase and vend goods and services. Moreover, by decentralizing commerce, Mallconomy aims to diminish the sway of intermediaries, streamline transactions, and create a more comprehensive and approachable shopping environment.
At the core of Mallconomy lies the V3 MallStar App, a state-of-the-art tool that serves as the gateway to this new ecosystem. In addition, this app empowers users to engage in a global marketplace where they can buy, sell, and connect directly with one another, obviating the need for traditional middlemen. As the world embraces blockchain technology and decentralized systems, Mallconomy stands at the forefront of this transformative surge.
V3 MallStar App is The Gateway to Decentralized Shopping
Empowering vendors and entrepreneurs, the V3 MallStar App provides a platform that fosters fairness and inclusivity. Moreover, It facilitates access to a broader audience while lessening the impact of steep fees typically associated with traditional payment gateways and intermediaries. Also, this enables businesses to optimize their revenues and allocate resources towards expansion.
Delivering a user-centric experience, the V3 MallStar App prioritizes user preferences and choices. By eliminating intrusive advertisements and data mining practices, users gain control over their shopping journey, focusing on products and services that resonate with their interests. This tailored approach not only enhances user satisfaction but also nurtures a strong sense of community within the Mallconomy ecosystem. However, Mallconomy’s native token WOOT is now available for presale, offering early adopters many benefits and opportunities within the ecosystem.
