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About dYdX
Industries
Fintech
Crypto & Web3
Company Size
51-200
Company Stage
Series C
Total Funding
$92.4M
Headquarters
San Francisco, California
Founded
2017
Overview
dYdX is a trading platform that specializes in crypto assets, offering services like margin trading, borrowing, and lending through Ethereum smart contracts. It stands out by providing a decentralized environment where users can trade without relying on a central authority, reducing counterparty risk. Key features include margin trading with up to 10x leverage, perpetual contracts, and tools for portfolio management. The goal of dYdX is to make the benefits of decentralized finance—such as security and transparency—accessible to a broader audience of serious crypto traders.
Simplify's Take
What believers are saying
- Integration with Layer 2 solutions reduces costs and increases throughput, enhancing competitiveness.
- The move to Cosmos ecosystem boosts scalability and interoperability, attracting more users.
- Partnership with Anchorage Digital for institutional staking increases liquidity and participation.
What critics are saying
- Increased competition from decentralized exchanges like Uniswap and Sushiswap challenges market position.
- Potential regulatory scrutiny could impact operations and compliance with financial regulations.
- Migration to Cosmos ecosystem may pose technical challenges and affect user experience.
What makes dYdX unique
- dYdX offers decentralized trading with Ethereum smart contracts, ensuring security and transparency.
- The platform provides margin trading with up to 10x leverage, attracting experienced traders.
- dYdX's integration with Phantom Wallet expands access to Solana users, increasing trading volume.
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Funding
Total Funding
$92.4M
Meets
Industry Average
Funded Over
4 Rounds
Andreessen Horowitz
Craft VenturesIndustry standards
Benefits
Health: We offer top-tier health, dental, and vision insurance.
Food: Enjoy fully catered lunch and snacks every day each week
Vacation: Take as much time off as you need to be productive
Ownership: Meaningful equity and competitive compensation.
Wellness: Monthly fitness, wellness, and gym reimbursements.
Relaxation: Events, offsites, and board game nights with the team!
Growth & Insights and Company News
6 month growth
↑ 0%1 year growth
↑ 2%2 year growth
↑ 1%Phantom Wallet, a Solana-based wallet, has integrated with dYdX, a leading decentralized exchange (DEX), allowing users to access perpetual trading on the platform.
dYdX has integrated with Keplr Wallet, enhancing user access to its decentralized trading platform.
dYdX, a leading decentralized finance (DeFi) platform, has announced the upcoming release of dYdX Unlimited, slated for this fall.
The dYdX Foundation, a part of the dYdX ecosystem, has just published its 2024 Semi-Annual Ecosystem Report, highlighting the incredible momentum gained by the project and its community over the first six months of the year, solidifying its position as one of the leading protocols in the decentralized finance industry.
Editorial Note: The following content does not reflect the views or opinions of BeInCrypto. It is provided for informational purposes only and should not be interpreted as financial advice. Please conduct your own research before making any investment decisions. The dYdX community has successfully voted to upgrade the protocol to dYdX Chain software v5.0.0, with the transition completed on June 6, 2024. This latest upgrade brings many new features and improvements designed to bolster the platform’s functionality and user experience. Key Highlights of dYdX Chain v5.0.0 Upgrade
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About dYdX
Industries
Fintech
Crypto & Web3
Company Size
51-200
Company Stage
Series C
Total Funding
$92.4M
Headquarters
San Francisco, California
Founded
2017
dYdX is Hiring for 0 Jobs on Simplify!
Find jobs on Simplify and start your career today