Santiment: DYDX Coin and Its 9 Became the Apple of the Developers’ Eye!

When the development activities carried out in the last 30 days were examined, it was seen that the dYdX coin project reached its peak with an average of 225 valuable activities per day. These data are of great value 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 the information 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 valuable activities per day. This information is of great importance in terms of revealing how effectively project ecosystems are developed.

dYdX is a decentralized derivatives exchange established as an alternative to classical exchanges. The exchange, which has attracted attention with the high transaction volume it has achieved recently, is also progressing without slowing down 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 is the meaning of this list?

However, it should be noted that this list is based solely on code changes on GitHub and the value of each change may vary. However, it can be said that the list is expensive 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 related to the increasing popularity of the decentralized derivatives market. Strict regulations of classical derivative markets direct users to decentralized alternatives. Platforms like dYdX are always focusing on development to meet this demand.

Other projects on the list also offer innovative solutions in their fields. Synthetix enables tokenization of classic 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 developing rapidly. One of the biggest forces behind this development is, of course, the actively ongoing project developments. In order to attract users’ attention and stand out in 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.