Cosmos Labs CEO: dYdX-Robinhood RWA deal has limited impact on ATOM

Barry Plunkett, co-CEO of Cosmos Labs (ATOM), has stated that the real-world asset (RWA) collaboration between dYdX and Robinhood Crypto will have a limited impact on ATOM. He explained on X that the dYdX chain has always operated independently and, despite using the Cosmos stack, factors like fees and security have not had a significant effect on ATOM. Plunkett added that since the ATOM community did not finance dYdX's migration to Cosmos, the new partnership does not represent a loss for the ecosystem. Plunkett assessed the move as a rational choice for dYdX, which he said has been struggling amid pressure from competitors like Hyperliquid and Lyra, a downturn in DeFi, and Web2.5 services like the prediction market Kalshi. The collaboration follows an announcement by dYdX Labs that it would launch Arcus, a decentralized exchange for tokenized stocks and perpetual futures, with Robinhood Crypto.