The dYdX Boom | Antonio Juliano (10/6)
Bankless
Bankless
4.7 • 1.2K Ratings
🗓️ 6 October 2021
⏱️ 79 minutes
🧾️ Download transcript
Summary
Save 10% on dYdX trading fees!
https://trade.dydx.exchange/r/bankless
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In September 2021, dYdX did more trade volume than Coinbase for the first time. The growth in the scaled trading protocol has been astounding, and this has been no coincidence. dYdX has pioneered Layer 2 solutions along with Starkware's ZK Rollup, and the result has been an explosion of perpetual swaps and deep liquidity pools on dYdX's native rollup.
Antonio Juliano returns to Bankless to discuss the parabolic growth of dYdX, the plans for its governance & utility token, and the future of decentralized derivatives.
State of the Nation is livestreamed on Tuesdays at 11am PT / 2pm ET.
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Topics Covered:
0:00 Intro
8:30 Antonio Juliano of dYdX
11:06 dYdX vs. Coinbase
15:50 Who's Trading?
19:09 Behind the Success
24:31 Layer 2 & TVL
32:40 Order Book
38:45 The Largest Exchange
42:03 Competing with FTX
47:30 Decentralization
52:58 The DeFi Spectrum
57:20 Pioneering Scale & Layer 2
1:04:48 Ethereum Layer 1
1:07:48 Regulatory
1:12:41 Successful dYdX
1:16:10 Closing & Disclaimers
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Resources:
Antonio on Twitter:
https://twitter.com/AntonioMJuliano?s=20
dYdX:
https://dydx.exchange/
How to Trade:
https://newsletter.banklesshq.com/p/how-to-trade-on-the-dydx-rollup
How to Earn:
https://newsletter.banklesshq.com/p/a-guide-to-earning-on-dydx
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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.
Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://newsletter.banklesshq.com/p/bankless-disclosures
Transcript
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| 0:00.0 | Hey, Bankless Nation. Welcome to another state of the nation. Super excited about the topic |
| 0:12.4 | today and the guests we have. David, why don't you give a quick preview who are we talking |
| 0:17.3 | about? What's this about? Antonio Giuliano from DIY DX, who will be on the show for the |
| 0:22.8 | third time because DIY DX continues to just deliver absolute ground breaking metrics and landmarks |
| 0:31.0 | when it comes to decentralized trading now on layer two. So that is really the story of this |
| 0:38.6 | week is that DIY DX has been doing more volume than Coinbase and Coinbase is the leading centralized |
| 0:45.1 | exchange. And not only do you say that again, you say that again. DIY DX, a order book base exchange |
| 0:51.8 | that lives on an Ethereum layer two is doing more volume than the world's leading centralized |
| 0:58.2 | exchange and also all other DX's on Ethereum combined. And so this is an amazing success story out |
| 1:05.6 | of a project that has been grinding for years. So what well deserved to the DIY DX team. And I |
| 1:10.5 | feel like after once you have like more volume than Coinbase or more volume than a leading centralized |
| 1:16.2 | exchange, like we have a bunch of lessons to learn about how that story unfolded. And so that is |
| 1:22.0 | what we want to tell it today. Yeah, how exactly. That's the question. This meteoric rise. How do |
| 1:27.5 | they do it? What I love about this story too is no sacrifices and decentralization were made. |
| 1:34.4 | Like no harm to decentralized protocols in the making of DIY DX, which is absolutely fantastic |
| 1:41.8 | because there's so many other alternatives out there that sacrifice on decentralization and say, |
| 1:48.2 | hey, decentralization is not what users want, not what users care about. But DIY DX is |
| 1:54.9 | prioritized it the entire time. And now this success, it feels like an overnight success, |
| 2:01.2 | but it's really been like a five year overnight success. I think a huge catalyst was the launch |
| 2:07.5 | of layer two, but I'm going to we're going to let Antonio tell us more of this story. So we'll |
| 2:12.6 | get to that in a minute. One thing I'd like to remind bankless listeners, if you are a bankless |
| 2:18.1 | listener and you want some, let's see, let me see if I can share this. You see my screen here, |
... |
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