It's time to find out who is behind dYdX...
To begin with, it's important to understand that there are two distinct organizations associated with dYdX: the dYdX Foundation and dYdX Trading Inc. The dYdX Foundation is a project DAO based in Switzerland, with the goal of supporting and advancing the development of the dYdX Protocol project, including its ecosystem and technical aspects. As a non-profit entity, any income or commissions earned are received by dYdX Trading Inc. In the typical fashion of the cryptocurrency industry, the foundation holds responsibility for the project and the issuance of the token, while the Trading Inc. team may sever ties with the protocol at any time. On the other hand, dYdX Trading Inc. is registered in San Francisco and is the owner of the project's website interface and technologies such as smart contracts, order book, NFTs, and others. Thus, while Trading Inc. (developers) own everything related to the project, it is the Foundation (DAO) that holds responsibility for its success.
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Team The project team consists of more than 40 people, including: salesmen, lawyers, marketing "department" and all-round consultants. There is no detailed information about the team, so we will limit ourselves to the creator. The CEO (and founder) is Antonio Giuliano, a "Software Engineer" (MongoDB, Coinbase, Uber). Nothing special, an average developer.
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Investors The funding history of dYdX Trading Inc. is quite impressive, with four rounds of financing that have raised a total of $87 million, including a last round that closed at $65 million. The company has secured investment from a range of venture funds, including 3AC, Paradigm. It is worth noting that the project was developed over a period of four years before the token launch, which is a significant amount of time in the fast-moving world of cryptocurrency. The company raised $2 million in its first round of funding back in 2017, which is a testament to the confidence that investors have shown in the project over the years. While the CEO has not disclosed the project's valuation, he has emphasized the importance of the Chinese market and the company's long-term growth strategy. With 277 million tokens allocated to investors, which is equivalent to 27.7% of the total token supply of 1 billion, the company seems well-positioned to continue its growth trajectory.
Why bother with geeks, right? They're just doing their thing, and as long as they're doing it well, that's all that matters. But in other categories, we'll take a closer look at the numbers, because they definitely deserve to be studied.
If you are interested about the journey of the dYdX team, I recommend reading the article from medium written by Antonio Juliano (Founder), called "The History of dYdX (so far)" which delves into his experiences and endeavors dating back to 2015-2016.
Source: https://antonio-dydx.medium.com/the-history-of-dydx-so-far-68bf46789f86 Show Less
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