dYdX Trading, the operator of a major decentralized exchange, has become a public benefit corporation and will not earn trading fee revenue from its upcoming v4 platform. The company's new legal structure is committed to not just maximizing shareholder value. While dYdX will continue to generate trading fee revenue from previous versions of its protocol, it expects most trading activity to move to the new version over time. The v4 platform is currently functioning on testnet and is expected to go live on mainnet in the next few weeks.

On October 17th, dYdX founder Antonio announced that dYdX Trading Inc. has officially updated its bylaws to become a Public Benefit Corporation. Antonio stated that as an open-source software developer, we will not operate or generate transaction fee revenue from dYdX V4 and we value aligning with the community as much as possible. As a benefit corporation, we will still be a for-profit company, but this allows me and the board to not only maximize shareholder value, but also act in the public interest.

Antonio, the founder of dYdX, announced on the X platform that dYdX transactions will be charged zero fees through dYdX Chain on dYdX Trading Inc. Competitive single basis point trading fees in the industry (CEX) will only be earned by DYDX pledgers when the planned software is deployed.

dYdX officials announced on X that they will shut down dYdX Chain testnet 3 at 17:00 UTC tonight (01:00 tomorrow Beijing time) and launch testnet 4 later this week.

dYdX founder Antonio Juliano said on the Lightspeed podcast that the transition plan to Cosmos will take place this month, at which point the platform will be "completely decentralized".

dYdX on the X platform stated that it is updating the MEV dashboard to more accurately detect the maximum extractable value (MEV). The updated version can display the dollar value of MEV that each validator may extract, rather than the order book differences that may come from MEV or network noise in the initial version. dYdX Trading is continuing to explore further mechanisms and protocol-level designs to prevent MEV extraction.

The largest decentralized financial derivatives platform, DYdX, has integrated a cross-chain infrastructure solution from Axelar's interoperability network. The integration will allow for single-click onboarding and offboarding to the upcoming dYdX version 4 platform, which will feature its own appchain model in the Cosmos ecosystem. The integration will utilize Squid, a cross-chain transaction builder built on Axelar's decentralized infrastructure, to efficiently transition users onto the new platform. <br>

dYdX stated on X platform (formerly Twitter) that its 24-hour trading volume reached 1.05 billion US dollars yesterday.

On September 12th, dYdX founder Antonio Juliano posted on X platform stating that there is currently no plan to compensate validators on the dYdX Chain through additional inflation, and that the existing token distribution model will be used after the launch of dYdX Chain (inflation has been reduced by more than 60%). Soon, dYdX Chain will become the Layer1 closest to Ethereum in terms of the sustainability of the token economic model.

September 8th, dYdX will close Testnet 2 at 23:00 on September 11th and launch Testnet 3 on September 13th. Updates for Testnet 3 include: conditional orders, MEV nodes, delayed message modules, and support for using governance tokens to pay gas fees.