Is dYdX's move bearish for Ethereum?

This week, dYdX announced it’s ditching Ethereum and launching dYdX V4 on its own chain in the Cosmos ecosystem.

Context: dYdX is the largest perpetuals DEX in the all of DeFi — by a long shot — and it is currently hosted on a Starkware-powered app-specific rollup.

dYdX’s official line on its migration is scalability.

But are they also behooved by Starkware fees? Or maybe legal problems?

What do you think is going on here?

…and Is dYdX’s chain swap bearish for Ethereum?

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