At Binance’s Dubai Blockchain Week, dYdX Foundation CEO Charles d’Haussy shared insights into the merging landscape of centralized (CeFi) and decentralized finance (DeFi). Notably, only 5% of perpetual futures are currently traded on-chain, signaling substantial growth potential for DeFi.
Having operated since 2018, dYdX initially utilized Ethereum’s Layer 2 but later launched its own blockchain, dYdX Chain, a year ago. To date, the platform has facilitated over $1 trillion in transactions on V3. As part of its evolution, dYdX plans to introduce “dYdX Unlimited” within three weeks, which will feature permissionless market listings. This upgrade is aimed at establishing dYdX as a “true DeFi exchange” focused solely on perpetual contracts. d’Haussy explained that Unlimited will allow for listing a diverse range of assets, from meme coins to real-world assets, and enable permissionless markets.
Investors in dYdX include industry giants such as Polychain and Paradigm, while Binance, Kraken, and select wallet providers serve as validators on the dYdX chain. Recent layoffs at dYdX aim to streamline operations and boost agility, positioning the company to innovate quickly with a leaner team and a renewed startup approach.
Read full coverage of Binance’s Dubai Blockchain Week at CentBit.Online – Crypto & Blockchain Expert Bangladesh.
