dYdX

dYdX

Decentralized trading platform for crypto assets

About dYdX

Simplify's Rating
Why dYdX is rated
A-
Rated A on Competitive Edge
Rated B on Growth Potential
Rated A on Rating Differentiation

Industries

Fintech

Crypto & Web3

Company Size

51-200

Company Stage

Series C

Total Funding

$95M

Headquarters

San Francisco, California

Founded

2017

Overview

dYdX is a trading platform that specializes in cryptocurrency assets, offering services like margin trading, borrowing, and lending through Ethereum smart contracts. It operates in a decentralized environment, allowing users to trade 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 provide the benefits of decentralized finance—such as security and transparency—to a broader audience of serious crypto traders.

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Significant Headcount Growth
Simplify Jobs

Simplify's Take

What believers are saying

  • Integration with Layer 2 solutions reduces transaction fees and enhances speed.
  • zk-rollups offer scalable solutions, increasing transaction throughput for dYdX.
  • Regulatory clarity in DeFi encourages institutional participation, boosting liquidity.

What critics are saying

  • Increased competition from Uniswap and Sushiswap threatens market share.
  • Potential vulnerabilities in smart contracts could lead to security breaches.
  • Regulatory scrutiny on DeFi platforms may impact dYdX's operations.

What makes dYdX unique

  • dYdX offers up to 50x leverage, surpassing many competitors' offerings.
  • The platform integrates with Solana-based Phantom Wallet, enhancing cross-chain capabilities.
  • dYdX provides Permissioned Keys for institutional traders, ensuring granular security.

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Funding

Total Funding

$95M

Meets

Industry Average

Funded Over

4 Rounds

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

$50M
$50M
Medium
$62M
SeatGeek
$65M
dYdX
$100M
Oura

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

Headcount

6 month growth

4%

1 year growth

5%

2 year growth

5%
Stakecito
Mar 5th, 2025
dYdX Launches New Mobile Trading Experience

dYdX has introduced a new mobile trading experience with a refreshed interface, seamless trade execution, and up to 50x buying power.

Stakecito
Feb 23rd, 2025
dYdX Introduces Permissioned Keys

dYdX launches Permissioned Keys, offering institutional traders granular security and access control for API-based trading.

The Defiant
Sep 27th, 2024
Solana-Based Phantom Wallet Integrates with dYdX, Facilitates $250 Million in Volume

Phantom Wallet, a Solana-based wallet, has integrated with dYdX, a leading decentralized exchange (DEX), allowing users to access perpetual trading on the platform.

CoinSpeaker
Sep 10th, 2024
dYdX Chain Integrates Keplr Wallet to Boost Access for Over 1 Million Users

dYdX has integrated with Keplr Wallet, enhancing user access to its decentralized trading platform.

Blockchain News
Aug 14th, 2024
dYdX (DYDX) Unveils Unlimited Trading Platform with New Features

dYdX, a leading decentralized finance (DeFi) platform, has announced the upcoming release of dYdX Unlimited, slated for this fall.

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