Overview

dYdX is a trading platform that specializes in cryptocurrency assets, offering services like margin trading, borrowing, and lending through Ethereum smart contracts. It allows users to trade without a central authority, reducing counterparty risk, and generates revenue through transaction fees and service charges. 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 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

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