dYdX Community Vote: Closure of ethDYDX–DYDX Bridge

The vote, initiated by the dYdX Foundation (@dydxfoundation), asks whether to cease support for the wethDYDX Smart Contract (the bridge) [Post: 1932132838364586122]. If approved, this move would halt direct token transfers between Ethereum and the dYdX Chain, potentially locking ethDYDX tokens if bridged within 25 hours of the vote’s end [Post: 1932132840520515627]. The purpose? To streamline operations on the dYdX Chain, enhancing scalability and reducing reliance on Ethereum’s network. This could boost efficiency but may limit accessibility for Ethereum-based traders. A prior governance proposal on June 8, 2025, showed 91% community support, signaling strong momentum [blockchain.news, June 9, 2025]. Users are urged to bridge assets ASAP to avoid risks.

Recent News

dYdX has been making waves in 2025. In March, the project unveiled a roadmap prioritizing stability and speed, including a partnership with Skip to cut deposit/withdrawal times to under a minute (down from 18+ minutes) [beincrypto.com, March 11, 2025]. Despite Indexer instability causing website disruptions, the dYdX Chain has remained robust, reinforcing its appeal. The Ethereum Foundation’s recent treasury strategy update (June 5, 2025) also highlights the next 18 months as “pivotal” for blockchain projects like dYdX [cointelegraph.com, June 5, 2025], setting the stage for this vote.

Future Plans

Post-vote, dYdX aims to expand its ecosystem with new trading tools and a detailed roadmap, focusing on user experience and cross-chain integration [beincrypto.com, March 11, 2025]. The shift to the dYdX Chain aligns with long-term goals of decentralization and performance, potentially attracting more traders if liquidity adapts successfully.

Onchain Data

Specific onchain metrics (e.g., transaction volume or staking data) for this vote aren’t publicly detailed yet, but dYdX’s proof-of-stake blockchain relies on validator nodes for security [www.dydx.xyz] (http://www.dydx.xyz]). Historical data from similar bridges shows high activity during critical votes, suggesting a spike in wallet interactions as the deadline nears. Check dYdX’s official site for real-time updates.

Community Sentiment

X reactions are mixed but engaged. Users like @Yosefphr are acting quickly to bridge assets, showing proactive sentiment [Post: 1932133652265332976], while others seek clarity on risks. Influencers highlight the vote’s potential to impact DYDX liquidity, with minor price dips noted in correlated tokens like UNI and AAVE [blockchain.news, June 9, 2025]. Sentiment leans cautiously optimistic, pending the outcome.

Additional Insights

This move mirrors broader DeFi trends toward native blockchains, with Chainalysis reporting $2 billion lost in bridge hacks by 2022 [Chainalysis, 2022]. For users, benefits include faster trades, but risks like token lockups require vigilance. Bitcoin’s $69,000 price (June 9, 2025) suggests a stable market, though volatility could follow [CoinGecko, June 9, 2025].

Risk Disclaimer: Always assess risks like token lockups or market shifts before acting. DYOR!