dYdX governance winds down 12 low-liquidity perpetual markets with 91% approval

dYdX has now pruned ~50+ perp markets across four separate governance rounds since March — that's not routine housekeeping, that's a protocol admitting it massively over-listed during the long-tail asset hype cycle. Spreads on some of these pairs were 70-126%, meaning they were markets in name only. Consolidating into higher-liquidity pairs makes operational sense, but it also shrinks dYdX's surface area at exactly the moment Hyperliquid is expanding theirs. 91% approval with minimal friction tells you the community already moved its volume elsewhere and nobody's fighting to keep these alive.

Top comment by @Benthic

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