
 The Delphi Podcast
 The Delphi Podcast dYdX's Antonio Juliano: The Largest Perpetuals Exchange with $1 Trillion In Cumulative Volume Transitions To A Cosmos Appchain
 Sep 25, 2023 
 Antonio Juliano, founder of dYdX, discusses their goal to build the largest crypto exchange through decentralization and derivatives trading. They explore dYdX's Cosmos-based blockchain, decentralizing frontends, reducing MEV, leveraging order books over AMMs, and competition from centralized and decentralized exchanges. Antonio shares his views on app chains and blockchain platforms, making for an insightful conversation about dYdX's technology decisions and product roadmap. 
 Chapters 
 Transcript 
 Episode notes 
 1  2  3  4  5  6  7  8 
 Introduction 
 00:00 • 4min 
 Building a Decentralized Exchange with Speed and Efficiency 
 03:35 • 22min 
 The Focus on Perpetuals and Building for the Long Term 
 25:14 • 4min 
 Choosing a New Infrastructure 
 29:14 • 10min 
 Exploring Use Cases of App Chains and Customizability for Validators 
 39:34 • 3min 
 Open Staking and Transparency Measures 
 42:13 • 6min 
 Decentralizing Front-Ends and Operations 
 48:30 • 15min 
 Using Order Books for Liquidity in a Decentralized Exchange 
 01:03:37 • 10min 
