D Y D X - What Happened to the Big Name Defi Coins?

In his last appearance on The Scoop, Antonio Juliano — founder and CEO of decentralized derivatives platform dYdX — was preparing to integrate StarkWare’s layer-2 scaling technology into the third iteration of the dYdX protocol.  

Just over a year later, dYdX has grown to dominate the decentralized derivatives space, with the majority of decentralized perpetual swap trading volume occurring on the platform, according to data from The Block.

In this episode of The Scoop, Antonio Juliano explains why his team remains undeterred by the global market drawdown as they work towards the upcoming dYdX v4 release, which will fully decentralize governance of the protocol.

As Juliano said on the show, his long-term vision extends past market cyclicality:

“It's really important for us to maintain that mentality of: the markets may go down, people may write us off to some level, but really what we're building for is five years from now.”

While most “blue chip” DeFi tokens have fallen significantly from last year’s all-time highs, Juliano believes the recent trend of centralized exchanges like Coinbase and Robinhood providing users with streamlined access to Web3 platforms will provide an influx of new market participants to DeFi protocols.

As Juliano explained during the interview,

“It's just going to be a huge magnifier and multiplier in terms of the types of people and the number of people that can interact with DeFi. I'm really excited about this — I've been excited about this narrative playing out for a while now. I thought it would probably take a little bit longer, to be honest than it did... but it's something that that I'm really excited about and I think will be a huge multiplier for DeFi."

 Episode 48 of Season 4 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Antonio Juliano, Founder & CEO of dYdX.

Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.

This episode is brought to you by our sponsors Fireblocks, Coinbase Prime & Cross River

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