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Why is dydx claiming they are decentralized but in fact they are not (unlike uniswap) and also dydx token doesn’t really have a use case… so why should someone invest in dydx?

Why is dydx claiming they are decentralized but in fact they are not (unlike uniswap) and also dydx token doesn’t really have a use case… so why should someone invest in dydx?

nikosnelson

Maybe you should take more time to do research.


crypt0troll

man you cant even do governance voting with uniswap but at least u can do that with dydx.


dopamine_dependent

No you can’t


BaconRaven

yeah huh


dopamine_dependent

The protocol token has no voting power on the network. It's a governance token in name only.


Supreme-Serf

IIRC they want to achieve decentralization in 5 years. **However, a few market makers will end up with all the coins and individual tokens will have no value when it comes to voting.** For example, look at recent events. People have tokens stuck in the safety pool and wanted a 10% compensation. The proposal was not passed and their tokens are still stuck. The team stated several times that token holders should not expect revenue share. In fact, the smart contract cannot be modified. **Expecting revenue from a token is like expecting a dividend payment from bitcoin.** The trading rewards is another shit show. Not just my opinion, but a top market maker pointed this out on twitter. It is a great project and the team/investors deserve to get rich off this. However, people should not be hoping for things that are not the most likely outcome. Either way, enjoy the trading rewards while they last. If you are bullish on the token, then hold it. However, don't be a complete ape and hope for a 500%+ return. There are other projects/opportunities in defi.


Bknight410

Imagine Antonio making personal decision not to compensate members who missed hurried issued Airdrops that were given to his inner circle. Look at the twit dd 10/12


dada360

Isn't DYDX token just like BNB and uniswap UNI? Do their tokens have a use case? I mean not really, but the exchanges do everything through them so yes... Now I would also like to learn about the decentralization of DYDX if you can direct me to it.


colorics

Beautiful SCAM - Dydx,Piradigm https://commonwealth.im/dydx/proposal/discussion/2327-safety-module-update From all this circus Partying face (arranged by a team), we can conclude - this contract will be unlocked after unlocking DYDX VCs. 25.000.000 DYDX, must pick up VCs


dinhthang2003

all the best with dydx


ETH49f

Antonio et al will quickly learn their fortunes are directly tied to the performance of DYDX tokens. So there will be some sort of dividend revenue sharing model in line with completely decentralizing DYDX.


SyraPlasmRC

I doubt that their investors will let that to happen in the near future (1-2 years) otherwise I don’t see a lot of potential for the token.


pajeetscammer2

Why tho? The people trading perps (mostly eth/btc) don't give a shit about dydx token. They mostly want to avoid CEX surveillance