Bankless The dYdX Boom | Antonio Juliano (10/6)
Oct 6, 2021
Antonio Juliano, Co-founder of dYdX and former Coinbase engineer, shares the remarkable ascent of dYdX, which now eclipses Coinbase in trading volume. They delve into the game-changing Layer 2 solutions and how these innovations have fueled the platform's perpetual swaps and liquidity. Juliano contrasts dYdX and Coinbase, emphasizing the appeal for experienced traders, and discusses future strategies for decentralization and governance. He also hints at an exciting trading competition to engage the community.
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dYdX vs. Coinbase
- Five years ago, Antonio Juliano left Coinbase and founded dYdX.
- Today, dYdX surpasses Coinbase in 24-hour trading volume.
Platform Differences
- Coinbase and dYdX differ in asset availability and user profiles.
- dYdX's lower asset availability makes its higher volume even more impressive.
Derivatives Focus
- dYdX focuses on complex financial derivatives, unlike Coinbase's spot trading.
- Derivatives trading, especially with leverage, drives significant volume to exchanges like Binance and FTX.