The top-based crypto exchange platform in the US adds support for COSMOS (Atom)-based distributed financial (DEFI) AltCoin.
In a new thread on social media platform X, Coinbase says it supports the fourth iteration of DYDX (cosmosdydx), built on an interoperability blockchain that focuses primarily on cryptographic differentiation and permanently.
“Dydx is currently performing live on http://coinbase.com and the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, sell, send, receive or store these assets.”
Data from Coinbase reveals that following the announcement, Cosmosdydx watched a burst of price action, peaking at $0.63 just a day from $0.59 each day. The tokens have since been trading at $0.62 at the time of writing, up 3.7% that day.
In the official whitepaper, the project developers say that Dydx started in 2017 under Ethereum (ETH) but moved to Atom to provide better customizability options for derivative contracts.
“The DYDX chain is a sovereign layer-1 blockchain. That is, it doesn’t rely on Ethereum or other basic layers for execution, security or governance. Instead, it is built using the COSMOS SDK, allowing DYDX to have full control over the infrastructure.
The COSMOS SDK is a modular framework for building application-specific blockchains. Instead of deploying smart contracts into a generic chain like Ethereum, teams can define blockchains from scratch. This will select which modules to include, how to handle state migrations, and how to upgrade protocol logic. ”
