dYdX Celebrates Five Year Anniversary

The leading decentralized derivatives exchange has surpassed $630.8B in cumulative volume and amassed over 59,000 users since its inception in July 2017

NEW YORK, July 28, 2022 /PRNewswire/ -- dYdX Trading Inc. ("the Company"), developer of the leading decentralized derivatives exchange, dYdX, today celebrates its five-year anniversary with its partners and community. During the Company's five-year tenure, over $630B in volume across 38 markets has been traded on dYdX, and over the last year dYdX has seen cumulative volume grow by 233x. The five-year milestone comes shortly after the Company announced dYdX V4, which will mark the full decentralization of the exchange.

dYdX Trading CEO Antonio Juliano commented, "Today is an incredible milestone for dYdX. I am extremely proud of the team's accomplishments over the last five years, while envisioning even more progress over the next five years, and beyond. As we've grown over the past half decade, our goals have never wavered - we want to be the premier decentralized exchange in the industry and look forward to continuing our pursuit to reach that objective."

Throughout its first five years of operation, dYdX has consistently worked to improve the protocol. Most recently, the Company's announced dYdX V4, developed as a standalone blockchain based on the Cosmos SDK, which will fully decentralize the protocol later this year. In addition to protocol improvements, dYdX launched perpetual trading on its exchange, introduced Trading Leagues, developed an iOS mobile app for the exchange, listed dozens of markets, and unveiled 'Hedgies', a unique collection of 4,200 collectable avatars represented as NFTs on Ethereum distributed to the dYdX community. Since 2017, dYdX closed three rounds of funding, most recently a $65M Series C round led by Paradigm in June 2021.

The exchange now has around sixty thousand users, ranging from institutional funds to sophisticated day traders, catering to both the most experienced traders and users new to the space. By leveraging the best elements of both centralized and decentralized exchanges, dYdX has created a premier trading platform that continues to attract traders across the world.

Juliano continued, "We believe that decentralized finance is the future and we've only scratched the surface of what dYdX can achieve. There will be many more advances for our product and our company, and I'm excited to see what dYdX looks like when we are celebrating a decade of operations."

About dYdX
dYdX is the developer of a leading decentralized exchange on a mission to build open, secure, and powerful financial products. dYdX runs on audited smart contracts on Ethereum, which eliminates the need to trust a central exchange while trading. We combine the security and transparency of a decentralized exchange, with the speed and usability of a centralized exchange.

For more information, visit: https://dydx.exchange/blog/dydx-chain

Media Contact
Dillon Arace
M Group Strategic Communications (on behalf of dYdX)
315.512.6886
[email protected]

SOURCE dYdX