Defi Derivatives Exchange Dydx Raises $65 Million – Project Plans to ‘Launch a Mobile Application’
The decentralized exchange (DEX) Dydx announced the organization has raised $65 million in a Series C funding led by Paradigm. The Dydx announcement notes that the additional capital will be leveraged to “significantly improve liquidity” on the dex platform “through the volatility of the cryptocurrency markets.”
Dydx is one of the top ten dex platforms according to Dune Analytics statistics.
Dydx says the project aims to utilize the additional capital to:
- Decentralize the protocol
- Rapidly add new assets and features to the perpetuals contracts
- Partner with infrastructure players bridging the gap between centralized and decentralized finance
- Strategically invest in international growth markets such as Asia
- Continue to hire world-class engineers, designers, and business operators
