Cosmos Labs Co-CEO: dYdX’s shift to RWA is a rational choice and will have limited impact on ATOM

Foresight News reports that Cosmos Labs Co-CEO Barry Plunkett posted on Twitter commenting on the Arcus event launched through the collaboration between dYdX and Robinhood. dYdX has previously demonstrated its ability to operate seriously on-chain and drive industry development. However, in recent years, it has faced pressure from next-generation perpetual contract competitors such as Hyperliquid and Lighter, an overall downturn in DeFi, as well as competition from Web2.5 products like Kalshi. He considers the partnership between dYdX and the powerful distribution platform Robinhood, and the shift towards RWA, to be a "rational choice."

Regarding the impact on ATOM, he believes it to be very limited. dYdX Chain has always been a sovereign chain, and its fees, security, and value accumulation contribute very little to ATOM. The ATOM community did not pay for dYdX's migration to Cosmos in the first place. This move further confirms the Cosmos team's judgment: for teams with strong distribution capabilities and leading products, owning an underlying platform is extremely important. At present, Cosmos is focusing on building tokenized deposit solutions for banks.