The Evolution of the DEX Space with dYdX’s CEO Antonio Juliano

This past weekend marked the end of the three-day-long EthDenver conference, where thousands of developers, investors, enthusiasts, and thought leaders from around the globe attended to support the Ethereum community.

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Antonio Juliano, CEO and Founder of dYdX Trading, the world's leading decentralized exchange for cryptocurrencies, attended and spoke on The Evolution of the DEX Space panel. Alongside Will Warren, Co-founder and Co-CEO at 0x and Matcha. Antonio discussed the pivotal role of decentralized exchanges (DEXs) as the infrastructure and backbone for routing value across Web3.

DEXs allow users to trade in a permissionless and peer-to-peer manner, revolutionizing the way that users trade cryptocurrencies. In under six years, DEXs have undergone a remarkable evolution. Several leading platforms, like dYdX, improve the functionality and increase liquidity offered when compared to centralized exchanges.
“A really big challenge we’ve solved in the last few years was, how do we build a performative order book in a fully decentralized way, that’s never been done before. We built the first ever decentralized off-chain order book - this is running today in production on the dYdX chain.”

Antonio Juliano, CEO & Founder of dYdX Trading
Antonio also discussed the focus on user-centric products, noting the evolution of dYdX while retaining a core commitment to user accessibility.

“What is interesting to me is building a product that end users can actually use.dYdX has changed a lot but that’s the one thing that has remained the same. I see that evolution in 0x a lot as well,” said Antonio.“We built the first ever decentralized off-chain order book - this is running today in production on the dYdX chain.”

Since unveiling the dYdX chain last quarter, the Cosmos-based version of the DEX has outpaced its previous Ethereum-based iteration and replaced Uniswap as the largest DEX by volume in the world. The dYdX chain was launched in November 2023 as a dedicated Cosmos-based app chain and has seen significant success, recording $479M in volume over 24 hours.