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IbrahimXBT @IbrahimXBT on x XXX followers
Created: 2025-07-27 00:01:00 UTC
Wallet based KYC is creeping in. dYdX v4 isn't enforcing it yet, but the pressure is building. Protocols that touch perps, leverage, and USDC are already on regulatory radar. The moment one chain gets flagged for enabling retail access, others follow.
This isn’t about frontends anymore. It’s about control points: validators, sequencers, stakers. If any of them earn from trades by U.S. users, directly or not, they're exposed.
dYdX’s appchain gave it runway. Sovereign infra, validator based execution, no U.S. frontend. But with IBC open, USDC can now flow straight from Ethereum. And that bridge works both ways.
If the chain keeps growing and U.S. volume leaks in, KYC discussions won’t be theoretical. They’ll be baked into consensus.
Here’s the real risk: once wallet based KYC starts, there is no rollback. Wallet whitelists. Identity proofs. Blacklists at the RPC layer. All justified under compliance.
The second @dYdX validates that model, other chains will follow. Not because they want to, but because capital will demand it.
The fork in the road is here. One path preserves neutral infrastructure. The other rebuilds TradFi onchain.
Pick fast. This window won’t stay open.
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