dYdX Trading, the company behind one of the largest decentralized exchanges, will not earn trading fee revenue from its upcoming v4 platform as it has moved to become a public benefit corporation.
dYdX's new legal structure comes just a day after rival Uniswap said it will start charging a fee of 0.15% to swap certain tokens on its web interface and wallet. Juliano told The Block in an interview that dYdX had already received its updated charter approval on Sept. 15, with the company having worked on the move for a while now.
While dYdX won't earn from its v4 platform, it will continue to generate trading fee revenue from previous versions of its protocol, including v3, Juliano said. But he expects most, if not all, of the trading activity to move to the new version over time after it launches. The dYdX Chain launch will see user trading fees going to node operators and token stakers on the network, he added.