Arcus选择“后爸”Robinhood Chain，“亲爹”dYdX尴尬找补

Odaily星球日报2026-07-03 tarihinde yayınlandı2026-07-03 tarihinde güncellendi

Özet

Robinhood Chain公共主网上线，众多头部协议宣布接入。dYdX团队推出的新DEX Arcus选择部署于Robinhood Chain而非自家的dYdX Chain，引发社区关于dYdX Chain是否被边缘化及DYDX代币价值的担忧，导致DYDX代币价格下跌。Arcus主打7×24小时零手续费交易代币化股票和永续合约，并计划未来发行代币，其中部分将分配给dYdX社区。dYdX创始人回应称，dYdX Chain将继续运营，Arcus是独立的新产品，旨在应对市场对速度与用户体验的新需求，但未明确回答Arcus的增长如何与dYdX Chain及DYDX代币价值衔接的核心疑虑。

原创 | Odaily 星球日报(@OdailyChina)

作者 | Asher(@Asher_ 0210)

昨日凌晨,Robinhood 宣布其自有 Layer 2 网络 Robinhood Chain 正式上线公共主网。该链基于 Arbitrum 技术栈构建,定位为符合机构标准、无需许可、AI 原生,并专为现实世界资产(RWA)设计。

换句话说,Robinhood 想做的不是给加密行业多添一条链,而是把股票、RWA、借贷、交易和链上金融产品,统一放进自己的基础设施里。

大平台下场,生态位关键角色们也迅速站队。

Uniswap、1inch、Lighter、Morpho、Chainlink、BitGo、Ethena、EtherFi 等头部协议相继宣布接入 Robinhood Chain,覆盖交易、流动性、借贷、预言机、托管、跨链等多个加密核心赛道。

Robinhood Chain 生态项目一览

而在这场生态大集成中,dYdX 团队推出的全新 DEX Arcus,反而成为社区讨论的焦点。

社区用户发出质疑:dYdX Labs 是否正在把重心转向 Arcus?原有的 dYdX Chain 会不会被边缘化?DYDX 代币未来还能否继续承接协议价值?Arcus 与 dYdX 生态之间,又会以怎样的方式产生关联?

受相关争议影响,DYDX 近 24 小时跌幅超 12%,当前市值暂报 1.08 亿美元。

DYDX 代币近 7 日 K 线走势图

何为 Arcus?7×24 小时零手续费交易代币化股票

Arcus:dYdX 团队开发的去中心化交易所,现已开放早期候补名单

Arcus 是 dYdX 团队开发的去中心化交易所,现已上线 Robinhood Chain,提供 95 种代币化股票和永续合约的 7×24 小时零手续费交易。Arcus 支持股票、大宗商品、指数和加密资产的代币化交易,所有代币化股票由 Robinhood Chain 发行并可赎回,可自托管并接入 DeFi 生态。

Arcus x Robinhood:全天候交易股票和永续合约

目前,Arcus 已开放早期候补名单(链接:https://waitlist.arcus.xyz/),完成个人 X 账号、钱包绑定,即可完成交互。

Arcus 已开放早期候补名单

此外,Arcus 未来计划支持以代币化股票和加密资产作为永续合约抵押品,并提供 OpenAI 等热门私营公司的 IPO 前交易。

未来 Arcus 代币将会分配给 dYdX 社区

乍眼一看,dYdX 团队开发的 DEX Arcus 紧抓今年加密主线——代币化股票。但问题在于,Arcus 并没有部署在 dYdX Chain 上,而是选择运行在 Robinhood Chain,并以独立产品和独立基础设施的形式推进。这意味着,dYdX Labs 正在讲一个新的增长故事,但这个故事并没有把 dYdX Chain 和 DYDX 代币放在核心位置。

更微妙的是,dYdX 创始人 Antonio Juliano 在 dYdX 最新文档中表示,“未来 Arcus 代币将有一部分分配给 dYdX 社区”。这句话虽然意在安抚老社区,却也直接放大了 Arcus 的发币预期,让不少用户更加重视新的潜在空投机会。

Arcus 代币将分配给 dYdX 社区

考虑到 dYdX 曾推出过行业内规模最大的空投之一,Arcus 后续一旦开启交易激励、积分活动或早期用户计划,很可能吸引一部分交易者和流动性提前转向新平台。对 dYdX Chain 来说,这意味着原本就承压的交易量和活跃度,可能面临进一步分流。

dYdX 创始人回应:Arcus 是新产品,dYdX Chain 不会停摆

面对社区质疑,dYdX 创始人 Antonio Juliano 发文解释称,dYdX Chain 过去在去中心化上走得很深,拥有开源架构、社区治理、200 多个市场,以及 50 多个运行订单簿的验证者。

但他也承认,这条路线带来了性能和用户体验上的取舍。随着链上衍生品竞争加剧,市场正在奖励速度更快、体验更简单、流动性更集中的交易平台,Arcus 正是在这一背景下诞生。

此外,Antonio 表示,Arcus 将由 Eddie Zhang 担任 CEO 和 Founder,自己则加入董事会,负责战略和长期愿景。换言之,Arcus 并不是 dYdX Chain 上的一个新功能,而是 dYdX Labs 另行推进的新交易平台。

对于老社区,Antonio 表示 dYdX v4 会继续得到支持,用户资金和仓位仍可在 dYdX Chain 上访问;如果 Arcus 未来发行代币,也会为 dYdX 社区预留部分分配,并优先考虑曾经参与 dYdX 交易、质押、验证和社区建设的用户。

随后,dYdX Foundation 也进一步强调,Arcus 是基于独立基础设施构建的独立产品,dYdX Chain 不会因此受到影响。DYDX 仍是 dYdX Chain 的治理和质押代币,其机制、供应和运行特征没有变化,目前也没有任何代币兑换或迁移安排。

但市场担心的并不只是“dYdX Chain 还能不能用”。

真正的问题在于,如果 Arcus 未来跑出交易量和收入,dYdX Chain 能否分享到增长?如果 Arcus 发行新代币,DYDX 持有人能获得多少权益?dYdX Labs 后续资源又会如何在 Arcus 和 dYdX Chain 之间分配?

在这些价值承接问题给出明确答案前,Arcus 对 dYdX Labs 是新故事,对 DYDX 持有者则更像一道待解题。

Trend Kriptolar

CitreaCTR

wrapped stUSDTWSTUSDT

Velodrome FinanceVELODROME

BrevisBREV

ZRX（0X）ZRX

PancakeSwapCAKE

İlgili Sorular

QArcus是什么，由谁开发，主要提供什么服务？

AArcus是由dYdX团队开发的去中心化交易所，现已上线Robinhood Chain。它提供95种代币化股票和永续合约的7×24小时零手续费交易，支持股票、大宗商品、指数和加密资产的代币化交易。所有代币化股票由Robinhood Chain发行并可赎回，可自托管并接入DeFi生态。

Q社区对Arcus的主要质疑点是什么？

A社区的质疑主要集中在：dYdX Labs是否正在将重心从dYdX Chain转向Arcus，导致原有的dYdX Chain被边缘化；DYDX代币未来能否继续承接协议价值；以及Arcus与dYdX生态之间将如何关联。这些担忧导致了DYDX代币价格在相关争议后出现显著下跌。

QdYdX创始人Antonio Juliano如何回应社区的质疑？

AdYdX创始人Antonio Juliano发文回应称，dYdX Chain在去中心化上做得深入，但承认其在性能和用户体验上有所取舍。Arcus是针对市场变化而诞生的新产品，旨在提供更快速度、更简单体验和更集中的流动性。他表示Arcus将由Eddie Zhang担任CEO，自己加入董事会，并强调dYdX v4会继续得到支持。如果Arcus未来发行代币，会为dYdX社区预留部分分配。

Q根据文章，Arcus选择在Robinhood Chain上线，这对dYdX Chain可能带来什么影响？

AArcus作为dYdX团队开发的重要新产品，选择在Robinhood Chain而非自家的dYdX Chain上线，这被视为一种资源分流。文章指出，这可能导致原本就承压的dYdX Chain的交易量和活跃度面临进一步流失的风险，尤其是考虑到Arcus可能会进行交易激励或空投活动，吸引用户和流动性流向新平台。

QArcus未来可能发行代币，这与dYdX社区有何关联？

AdYdX创始人Antonio Juliano在dYdX的最新文档中表示，未来Arcus代币将有一部分分配给dYdX社区。这一表态虽然意在安抚老社区，但也直接强化了Arcus的发币预期，让许多用户开始关注新的潜在空投机会。同时，这也引发了社区对于DYDX代币未来价值如何从Arcus的增长中受益的疑问。

İlgili Okumalar

Paxos USDGL Launch Adds A Singapore-Regulated Twist To Yield-Bearing Stablecoins

Paxos has launched USDGL, a yield-bearing stablecoin, specifically for the Singapore market. This move introduces a regulated angle to the competitive stablecoin landscape, leveraging Singapore's structured regulatory framework for digital assets to differentiate the product. The launch underscores Asia's growing influence in shaping the next generation of stablecoin offerings. The article emphasizes that for users, regulatory clarity and trust are as critical as yield, addressing concerns about transparency and reserve backing. For the market, this development is framed as part of the broader competition in Asia's stablecoin sector. The key takeaway is to monitor follow-through actions—such as subsequent filings, market reactions, or adoption metrics—to determine if this becomes a sustained trend or remains a single update. The report is based on information from Paxos's official platform.

bitcoinist13 dk önce

Paxos USDGL Launch Adds A Singapore-Regulated Twist To Yield-Bearing Stablecoins

bitcoinist13 dk önce

Germany’s Bitcoin Wallet Drawdown Gives Traders A Possible Endgame For Selloff Fears

The German government's Bitcoin wallet, once a major source of selling pressure after a seizure, now holds less than 20% of its original BTC balance. This drawdown suggests a key, measurable supply overhang in the market may be nearing its end. While traders are watching to see if Bitcoin stabilizes as this pressure fades, the article cautions that the wallet's depletion does not guarantee a price rally, as other market pressures remain. The development is significant for market psychology, providing a clearer frame to gauge remaining supply. Its impact depends on whether ETF demand and spot buying continue to absorb coins. The story highlights the importance of separating confirmed developments from speculation and watching for follow-through actions to see if this becomes a sustained trend or remains a single data point. Ultimately, it offers traders a specific factor to monitor—the fading of a known sell-side source—within the complex, multi-layered crypto market.

bitcoinist14 dk önce

Germany’s Bitcoin Wallet Drawdown Gives Traders A Possible Endgame For Selloff Fears

bitcoinist14 dk önce

Can JTO reach $2? Here’s what could drive the rally

The Solana-based liquid staking protocol Jito is set to launch the JTX Trade app, a unified trading platform similar to Hyperliquid. A key bullish driver for the JTO token is that 80% of the platform's fees will be directed to JTO token buybacks, with analysts predicting a 2-5% buyback in its first year. This could catalyze a price rally. While crypto influencer Ansem predicted a 3x climb targeting above $1.50, the overall market weakness poses a challenge. Technically, JTO shows a bearish weekly structure but has exhibited notable buying pressure over three months, with its On-Balance Volume (OBV) challenging 2025 highs and the weekly RSI sustaining above 50. Key resistance lies at $0.80 and the $1 psychological level. Fibonacci retracement levels suggest a potential rally to $1.62-$2.00 is possible, contingent on the JTX Trade launch and sustained market sentiment. On the 4-hour chart, price action is bullish following an impulse from $0.40 to $0.88, currently in a retracement. A recent high-volume drop to $0.60 and oversold RSI are showing signs of reversal. However, the OBV's sideways trend over recent weeks requires increased buying volume to sustain recovery. The long-term trend remains bearish, but a rally to the $1.6-$2.0 range is feasible if broader market conditions don't deteriorate significantly.

ambcrypto58 dk önce

Can JTO reach $2? Here’s what could drive the rally

ambcrypto58 dk önce

WEMIX Trading On Kraken Gives Gaming Tokens Another Liquidity Test

The listing of WEMIX on the Kraken exchange provides the Web3 gaming token with a more established liquidity venue. This development serves as a fresh test of whether gaming tokens can attract liquidity beyond their niche communities, coming at a time when the category is attempting to prove its underlying investment case. While the listing improves access and visibility, it is only a starting point. Sustained demand ultimately depends on the ecosystem's ability to generate real engagement. The key for traders is to separate the confirmed development—the listing itself—from surrounding speculation. The story's long-term significance will be determined by follow-through, such as continued ecosystem growth, further exchange support, or sustained market reactions. Without such follow-up, it remains a useful snapshot of market attention rather than a definitive trend. The update provides a clearer frame for assessing liquidity and market positioning, emphasizing that a single headline does not control the entire market. The practical focus now shifts to how various market participants respond in the sessions after the initial announcement.

bitcoinist1 saat önce

WEMIX Trading On Kraken Gives Gaming Tokens Another Liquidity Test

bitcoinist1 saat önce

SEC Retail Fraud Group Puts Digital Asset Promotions Under A Sharper Consumer Lens

The SEC has formed a new Retail Fraud Working Group, signaling heightened scrutiny of digital asset promotions and scams targeting retail investors. This move underscores that the agency's crypto enforcement extends beyond major exchange cases to include clearer-cut fraud involving misleading claims, hidden risks, and microcap schemes. While the group's actions are unlikely to reshape ETF flows or DeFi architecture, they are expected to influence how crypto projects market themselves and how platforms handle consumer-facing offers. For the market, this development serves as a reminder to distinguish confirmed regulatory steps from speculation, focusing on follow-through actions rather than treating isolated headlines as definitive market signals.

bitcoinist1 saat önce

SEC Retail Fraud Group Puts Digital Asset Promotions Under A Sharper Consumer Lens

bitcoinist1 saat önce

İşlemler

Spot

Popüler Makaleler

DYDX Nasıl Satın Alınır

HTX.com’a hoş geldiniz! dYdX (DYDX) satın alma işlemlerini basit ve kullanışlı bir hâle getirdik. Adım adım açıkladığımız rehberimizi takip ederek kripto yolculuğunuza başlayın. 1. Adım: HTX Hesabınızı OluşturunHTX'te ücretsiz bir hesap açmak için e-posta adresinizi veya telefon numaranızı kullanın. Sorunsuzca kaydolun ve tüm özelliklerin kilidini açın. Hesabımı Aç2. Adım: Kripto Satın Al Bölümüne Gidin ve Ödeme Yönteminizi SeçinKredi/Banka Kartı: Visa veya Mastercard'ınızı kullanarak anında dYdX (DYDX) satın alın.Bakiye: Sorunsuz bir şekilde işlem yapmak için HTX hesap bakiyenizdeki fonları kullanın.Üçüncü Taraflar: Kullanımı kolaylaştırmak için Google Pay ve Apple Pay gibi popüler ödeme yöntemlerini ekledik.P2P: HTX'teki diğer kullanıcılarla doğrudan işlem yapın.Borsa Dışı (OTC): Yatırımcılar için kişiye özel hizmetler ve rekabetçi döviz kurları sunuyoruz.3. Adım: dYdX (DYDX) Varlıklarınızı SaklayındYdX (DYDX) satın aldıktan sonra HTX hesabınızda saklayın. Alternatif olarak, blok zinciri transferi yoluyla başka bir yere gönderebilir veya diğer kripto para birimlerini takas etmek için kullanabilirsiniz.4. Adım: dYdX (DYDX) Varlıklarınızla İşlem YapınHTX'in spot piyasasında dYdX (DYDX) ile kolayca işlemler yapın.Hesabınıza erişin, işlem çiftinizi seçin, işlemlerinizi gerçekleştirin ve gerçek zamanlı olarak izleyin. Hem yeni başlayanlar hem de deneyimli yatırımcılar için kullanıcı dostu bir deneyim sunuyoruz.

169 Toplam GörüntülenmeYayınlanma 2024.12.13Güncellenme 2026.06.02

Tartışmalar

HTX Topluluğuna hoş geldiniz. Burada, en son platform gelişmeleri hakkında bilgi sahibi olabilir ve profesyonel piyasa görüşlerine erişebilirsiniz. Kullanıcıların DYDX (DYDX) fiyatı hakkındaki görüşleri aşağıda sunulmaktadır.