According to dYdX Foundation, the growth of on-chain derivatives marks a structural move from centralized execution to transparent, verifiable, and self-custodied systems, signaling a trading environment where execution and custody are embedded on-chain (source: dYdX Foundation on X, Nov 3, 2025). According to dYdX Foundation, this shift reflects changing trader behavior and expectations for access, performance, and reliability, which are critical criteria for derivatives venue selection and risk controls (source: dYdX Foundation on X, Nov 3, 2025). According to dYdX Foundation, on-chain infrastructure is transitioning from a niche alternative to a core component of global market architecture, indicating that trust and efficiency are increasingly enforced at the protocol layer for derivatives market participation (source: dYdX Foundation on X, Nov 3, 2025).