dYdX Proposes USDC Backing Shift To Injective
The v9.9 plan would reroute deposits and withdrawals while leaving existing balances and open positions unchanged.
Decentralized derivatives protocol dYdX has proposed shifting its USDC backing mechanism from Noble to Injective, according to TheDefiant.
The proposed v9.9 plan outlines a rerouting of future user deposits and withdrawals. Meanwhile, existing USDC balances, collateral, and open positions will remain unchanged under the transition.
Instant Telegram notifications for large on-chain moves.
Proposal Scope
The protocol's governance community is currently reviewing the technical shift, which aims to alter how underlying stablecoin liquidity is handled across the network infrastructure without directly disrupting active traders.
Key facts
- dYdX proposed shifting USDC backing from Noble to Injective.
- The update is designated as the v9.9 plan.
- Existing USDC balances, collateral, and open positions remain unchanged.
- Deposits and withdrawals will be rerouted under the new configuration.
Source: thedefiant.io
This article is for information only and is not investment advice. BullishMarketCap news is produced with AI assistance from public sources and reviewed by our editors; see our editorial policy. Spotted an error? Tell us.
