dYdX is a decentralized trading platform that offers advanced financial services like derivatives and margin trading in cryptocurrencies.
dYdX
Infrastructure
Trading
+1
Description
Here's how it works:
- Decentralized and Accessible: It gives people all over the world access to complex trading tools, usually only available through traditional financial systems.
- Secure and Transparent: Thanks to blockchain technology, all trades are public and secure.
- Smart Contracts for Trading: These automate trades, reduce risks, and speed up transactions.
- Advanced Trading Features: It supports leveraged trading, allowing experienced traders to potentially increase their gains.
- User Control: You always control your funds, a key aspect of decentralized finance (DeFi).
dYdX's goal is to make sophisticated financial tools available globally and solve trust issues in traditional finance with blockchain technology. This makes it unique in the world of DeFi.
Team of the Project
Antonio Giuliano
Founder
Antonio Giuliano, a former software engineer at Coinbase and Uber, started the dYdX project in mid-2017. His goal was to create a community-driven, open-source derivatives exchange. Although it took place during a period of booming ICO growth, Juliano decided to raise funds through token sales. Also, Antonio is an advisor for Magic Eden.
Funding
$87,000,000
$87,000,000
Total Funds Raised
$65,000,000
$65,000,000
Series C
Led by Paradigm. Other investors were Wintermute, Three Arrows Capital, StarkWare Industries, Sixtant, QCP Capital, Polychain, Kronos Research, Menai Financial Group.
$10,000,000
$10,000,000
Series B
Led by DeFiance Capital, Three Arrows Capital. Other investors were Wintermute, The Spartan Group, Scalar Capital, RockTree Capital, Polychain, Hashed, GSR.
$10,000,000
$10,000,000
Series A
Led by a16z, Polychain. Other investors were Dragonfly, Craft Ventures, Bain Capital Ventures, Vy Capital and angels.
$2,000,000
$2,000,000
Seed Round
Led by a16z, Polychain. Other investors were Platinum Capital, Kindred Ventures, CSC Upshot and angels.