Barry Plunkett, Co-CEO of Cosmos Labs (ATOM), stated that the impact of the real-world asset (RWA) collaboration between dYdX and Robinhood Crypto on ATOM is limited. He explained via X that "the dYdX chain has operated independently from the beginning, and although it used the Cosmos stack, factors like fees and security did not significantly affect ATOM." He added, "The ATOM community did not bear the cost of dYdX's migration to Cosmos, so ATOM will not incur losses from this collaboration." Plunkett assessed that dYdX has struggled for a while under pressure from competitors like Hyperliquid and Lyra, the contraction of DeFi, and Web2.5 services such as prediction market Kalshi, making it a rational choice to target the RWA market with a partner like Robinhood, which has a distribution network. Earlier, dYdX Labs announced the launch of Arcus, a decentralized exchange for tokenized stocks and perpetual futures trading, with Robinhood Crypto.
