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![Mortezabihzadeh Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1384799128463495168.png) Morteza [@Mortezabihzadeh](/creator/twitter/Mortezabihzadeh) on x 6066 followers
Created: 2025-07-19 01:50:20 UTC

Most folks see dYdX and think "just another DEX."

But v4? A full-on sovereign L‑1 with validator driven order matching 🛠️

Here’s what makes it rare:

• dYdX Chain runs on Cosmos SDK + CometBFT, not Ethereum L2

• Top XX validators each run an in‑memory shared orderbook

• They match trades off‑chain, then include them on‑chain in blocks

• That means lightning-fast matching + full decentralization, no backend, no central engine

• Validators are smack in the middle: they maintain infra, get paid from fees, and are slashed for failure or MEV  

Map it out:

X. Submit trade → broadcast to validators

X. Validator picks strong blocks, matches in memory

X. Block goes through CometBFT consensus

X. Trade settles on-chain, no middleman

This isn’t rollup gimmicks. It’s validator powered perp trading on a self‑sovereign chain. It operates like a CEX but trustlessly & transparently.

You can skim the whitepaper. But understanding who runs the matching engine? That’s where institutional‑grade trust is built.

![](https://pbs.twimg.com/media/GwL0v2JXAAAD4Rh.jpg)

XXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1946387094714417507/c:line.svg)

**Related Topics**
[onchain](/topic/onchain)
[cosmos](/topic/cosmos)
[ethereum](/topic/ethereum)
[coins layer 1](/topic/coins-layer-1)

[Post Link](https://x.com/Mortezabihzadeh/status/1946387094714417507)