DYDX ETP：機構訪問和鏈衍生物的興起

探索DYDX ETP是如何彌合傳統金融和鏈上衍生品之間的差距，從而使機構規定了對分散交流的訪問。

The landscape of decentralized finance (DeFi) is rapidly evolving, with institutional investors increasingly seeking regulated and secure access to on-chain derivatives. The launch of the DYDX Exchange-Traded Product (ETP) marks a pivotal moment in this evolution, bridging the gap between traditional finance and the burgeoning world of decentralized exchanges.

分散財務（DEFI）的景觀正在迅速發展，機構投資者越來越多地尋求受監管和確保獲得鏈衍生物的機會。 DYDX交易所交易產品（ETP）的推出標誌著這一進化中的關鍵時刻，彌合了傳統金融與蓬勃發展的分散交流世界之間的差距。

What is the DYDX ETP?

什麼是DYDX ETP？

The 21Shares DYDX ETP provides institutional investors with a regulated, physically backed investment product that offers exposure to DYDX, the native token of the dYdX Chain. This ETP allows institutions to participate in the on-chain derivatives market through a familiar and trusted investment vehicle.

21shares dydx ETP為機構投資者提供了受管制的，身體支持的投資產品，該產品可暴露於DYDX，這是DYDX鏈的本地令牌。該ETP允許機構通過熟悉且值得信賴的投資工具參與鏈上衍生品市場。

Institutional Access to On-Chain Derivatives

機構進入鏈衍生物

One of the key benefits of the DYDX ETP is that it simplifies institutional access to DeFi. As Marcelo Ruiz de Olano, CEO and co-founder at kpk, noted, promising DeFi tokens often fly under the radar for investors unfamiliar with DeFi. The 21Shares dYdX ETP makes the market as simple to reach as any listed security.

DYDX ETP的關鍵好處之一是它簡化了機構在defi的訪問。正如KPK首席執行官兼聯合創始人Marcelo Ruiz de Olano所指出的那樣，有前途的Defi令牌經常在不熟悉Defi的投資者的雷達下飛行。 21shares dydx ETP使市場與任何列出的安全性一樣簡單。

The Growth of dYdX

dydx的增長

dYdX has solidified its position as a leader in the cryptocurrency derivatives market, boasting over 15,000 weekly active traders and $7.7 billion in trading volume in July. With a remarkable 20% market share in decentralized perpetuals, dYdX has facilitated over $1.5 trillion in total trade since its inception.

DyDX鞏固了其在加密貨幣衍生品市場中的領導地位，每周有超過15,000個活躍的交易者和77億美元的交易量。自成立以來，DYDX在分散的永久化中有20％的市場份額，促進了超過1.5萬億美元的總貿易。

The Hyperliquid Model: A Glimpse into the Future?

超流動模型：瞥見未來？

While the DYDX ETP focuses on providing access to a specific decentralized exchange, platforms like Hyperliquid offer a glimpse into the potential future of on-chain derivatives. Hyperliquid, with its lean team and technology-driven approach, has become a leader in the DeFi perpetual contract market. Its success is attributed to its engineering culture, institutional design, and narrative values.

雖然DYDX ETP專注於提供對特定分散交換的訪問，但諸如Hyproliquid之類的平台可以瞥見鏈上衍生物的潛在未來。用精益團隊和以技術為導向的方法，超流動性已成為Defi Perpetual Contractual Market的領導者。它的成功歸因於其工程文化，機構設計和敘事價值觀。

Challenges and Opportunities

挑戰和機遇

Despite the promise of DYDX ETP and platforms like Hyperliquid, challenges remain. Regulatory uncertainty, governance risks, and system stability are key concerns that need to be addressed. However, the opportunities are vast. As Charles d’Haussy, CEO of the dYdX Foundation, commented, the dYdX ETP empowers institutions to harness DYDX’s pioneering technology, redefining the $28 trillion crypto derivatives markets.

儘管有DYDX ETP和諸如Hyprolipid之類的平台的希望，但仍然存在挑戰。監管不確定性，治理風險和系統穩定性是需要解決的關鍵問題。但是，機會很大。正如DyDX基金會首席執行官Charles D'Haussy評論時，DYDX ETP賦予了Harness Dydx的開創性技術的機構，重新定義了28萬億美元的加密衍生品市場。

Final Thoughts

最後的想法

The launch of the DYDX ETP is more than just another investment product; it's a sign of the times. It signifies a growing acceptance and integration of DeFi into the traditional financial system. As institutions dip their toes into on-chain derivatives, the future of finance looks increasingly decentralized. Who knows, maybe one day your grandma will be trading crypto futures from her retirement account. The possibilities are endless!

DYDX ETP的推出不僅僅是另一種投資產品。這是時代的標誌。它表明將DEFI越來越多地融入傳統金融體系。隨著機構將腳趾浸入鏈上衍生物中，財務的未來看起來越來越分散。誰知道，也許有一天，您的奶奶將從她的退休帳戶中交易加密貨幣期貨。可能性是無限的！