dYdX.xyz

The end of another year is upon us and what an amazing one it was. From dYdX v3 hitting $1 Trillion in trading volume to shipping the dYdX Chain software, let’s take a look at all we accomplished over the past 365 days.

dYdX Chain Software

In June 2022, we announced dYdX v4 which would transform the well loved dYdX protocol it into a fully independent Cosmos app chain. This undertaking was, of course, no easy task and took us over a year to complete. We open-sourced the software in October and over the course of 2023 we built:

advanced order types
a trading front end
IBC connections
Three versions of the v4 testnet
And basically everything else that makes up dYdX Chain

And now that dYdX Chain software is released and being deployed, we are working to make updates available to the open source code including new features such as permissionless markets and more. The dYdX Chain, including the indexer and front end, is completely open-sourced with repositories found here.

dYdX v3

While we spent most of our year building v4, we were excited to see v3 hit some major milestones. This year dYdX v3 passed $1 Trillion in lifetime trading volume and saw several days with 24 hour trading volume above $2 Billion. We plan to continue supporting v3 for the foreseeable future even as we switch our focus to v4 software.

Research

dYdX Chain software allows for more customization and we believe that MEV is a problem that can be solved at the protocol/ chain level. Our research team worked with the folks at Skip Protocol to build ways to combat MEV including a public dashboard aimed at social prevention of MEV and a new architecture for combatting MEV.

dYdX Academy

This year, we also launched the dYdX Academy to create a safe space for crypto newbies and degens alike to learn more about the ecosystem. On the dYdX Academy, you can learn a wide range of topics from The History of Cryptocurrency to Algorithmic Trading Strategies.

We publish new pieces every week and will have some exciting topics + changes coming to the site in 2024. Find the Academy here.

Team

Img Description: dYdX Team + other core contributors

Of course, we couldn’t have shipped all these updates without our amazing team. This year was one of our biggest years for growth, with sixteen new hires starting including:

A Head of Policy to spread the crypto good word on Capitol Hill
A Mobile Engineer to help bring dYdX to iPhone and Android
An Executive Assistant to help our C Suite manage their time and make better decisions
A Workplace Lead to plan team events and upkeep our NYC office

…as well as growing our research, marketing, engineering and recruiting teams.

We are so thankful for new and old hires alike for making dYdX the best place to work. If you’re interested in joining our team, check out our open positions here.

Looking forward to 2024

While 2023 was debatably the biggest year yet, we’ve got a lot more to come in 2024. Next year we hope to ship a continued stream of product updates to dYdX Chain software and grow our team even more. Thank you to you all for coming along for the ride with us the past few years. We can’t wait to see what 2024 has in store!

About dYdX and Terms

Here at dYdX, our mission is to democratize access to financial opportunity. We believe that v4 software will represent notable progress in service of that mission. The events in the global economy that have transpired over the last year have only reinforced the need for open, transparent, and permissionless financial products. We’re excited for v4 software to better meet those needs.

If building the future of a decentralized exchange and open finance is something you’re interested in, check out what it’s like to work at dYdX and our open roles!

To ask additional questions, join the discussion on Discord, participate in the dYdX community, or follow us on Twitter. We’re excited to continue building the dYdX Chain and will continue to release updates over the coming months.

Terms and Conditions: This post is subject to the dYdX Terms of Use. The dYdX interface and products are not available to persons or entities who reside in, are located in, are incorporated in, or have registered offices in the United States or Canada ("Blocked Persons"), or other Restricted Persons (as defined in the dYdX Terms of Use). dYdX products and services are not intended for, and should not be used by, Blocked Persons or Restricted Persons. Terms of Use specific to v4 software can be found here.