Overview

dYdX is a trading platform that specializes in crypto assets, offering services like margin trading, borrowing, and lending through Ethereum smart contracts. It provides a decentralized environment for trading, allowing users to operate without a central authority, which reduces 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 accessibility.
• Institutional adoption of DeFi platforms is expanding dYdX's user base.
• Cross-chain interoperability protocols enable expansion beyond Ethereum.

What critics are saying

• Increased competition from other decentralized exchanges like Uniswap and Sushiswap.
• Regulatory scrutiny on DeFi platforms is intensifying globally.
• Migration to the Cosmos ecosystem may pose technical and adoption challenges.

What makes dYdX unique

• dYdX offers a decentralized exchange with the speed of centralized platforms.
• It provides margin trading with up to 10x leverage, enhancing trading potential.
• dYdX integrates smart contracts for secure, transparent, and automated transactions.

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Funding

Total Funding

$92.4M

Meets

Industry Average

Funded Over

4 Rounds

Notable Investors:

Andreessen HorowitzCraft Ventures

Notable Investors:

Andreessen HorowitzCraft Ventures

$65,000,000

Series C

Jun 2021

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.

Series C Funding Comparison

Above Average

Industry standards

Ind Avg. $50M

$16M

$40M

$50M

$62M

$65M

$100M

View all funding stages