When the development activities carried out in the last 30 days were examined, it was seen that the dYdX coin project reached the top with an average of 225 important events per day. These data are of great importance in terms of revealing how actively project ecosystems are developed. Here are the details…
DYDX coin and those cryptos are in the focus of developers
According to data recently shared by Santiment, dYdX has come to the fore in the development activities of cryptocurrencies operating in the field of decentralized finance (DeFi). When the development activities carried out in the last 30 days were examined, it was seen that dYdX was at the top with an average of 225 important events per day. These data are of great importance in terms of revealing how actively project ecosystems are developed.
dYdX is a decentralized derivatives exchange established as an alternative to traditional exchanges. The stock exchange, which has attracted attention with the high transaction volume it has achieved recently, is also progressing unabated on the development side. dYdX, which is at the top with a daily average of 225, is followed by the synthetic asset platform Synthetix ($SNX). Osmosis ($OSMO), Lido Finance ($LDO) and Fox Finance ($FOX) are in the third, fourth and fifth places, respectively. Other DeFi projects on the list are listed as follows:
- Jupiter Exchange ($JUP)
- Injective Protocol ($INJ)
- Uniswap ($UNI)
- Centrifuge ($CFG)
- Sora ($VAL)
What does this list mean?
However, it should be noted that this list is based solely on code changes on GitHub and the significance of each change may vary. Still, it can be said that the list is valuable in terms of giving clues about the general health of the DeFi ecosystem and which projects may come to the fore in the coming period. dYdX’s leadership may also be linked to the increasing popularity of the decentralized derivatives market. Strict regulations of traditional derivative markets direct users to decentralized alternatives. Platforms such as dYdX focus on continuous development to meet this demand.
Other projects on the list also offer innovative solutions in their own fields. Synthetix enables the tokenization of traditional assets. Osmosis offers integrated solutions to the Cosmos ecosystem in the field of decentralized exchange (DEX). Lido Finance stands out with its staking services. As a result, the DeFi ecosystem is evolving rapidly. One of the biggest forces behind this development is undoubtedly the actively ongoing project developments. In order to attract users’ attention and stand out from the competition, projects need to continue to offer innovative solutions and improve their platforms. We can expect to see exciting developments in this field in the coming period.
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