Anchorage Digital announced today that it may take control of the dYdX token on behalf of customers once the token is launched.
In Anchorage, it supports all 57 digital assets, including USDC market value leaders such as BITCOIN and Ethereum, and stable coins such as decentralized finance (Defi), a management token such as connectivity.
dYdX belongs to the third category, one of many ethereum-based protocols for lending, borrowing and/or trading without financial intermediaries. dYdX the company has rebuilt the dYdX exchange so that customers can make high leverage transactions; traders can access 25 times the amount of collateral they contribute. According to data collected by DeFi Pulse, it is the third largest derivatives trading platform in Ethereum, with assets on the platform of more than $ 300 million.
But the company wants to more comprehensively centralize the decentralized exchange. To do this, it needs a management token that will allow users to vote for changes to the protocol as well as changes to the market structure. The company officially announced the dYdX Foundation on August 3, which is responsible for issuing the tokens. The DYDX token will be separated from AAVE’s own Defi protocol management token and will be launched on the Ethereum network.
The addition of Anchorage assets is evidence of a growing desire by institutional investors to play a role in Defi management without managing their own tokens. In addition to storing assets, it also provides token management services such as AAVE October and SUSHI. It promotes the service as “network engagement with offline assets.”& quot;
October Jan. Anchorage also shows plans to expand its core business to become the first digital asset bank with Federal charter after receiving approval in January. The license would allow Anchorage digital bank to avoid state regulation when creating sub-storage schemes using it
