dYdX Snaps Up Telegram Trading App That Hit $1B Volume in Under a Year
Main Idea
dYdX has acquired Telegram-native trading app Pocket Protector, which achieved $1 billion in annualized trading volume in under a year, to expand its platform and integrate its features.
Key Points
1. dYdX acquired Pocket Protector, a Telegram-native trading app, and its co-founders Eddie Zhang and Kaiser Kinbote will join dYdX as President and Head of Growth.
2. Pocket Protector reached $1 billion in annualized trading volume and attracted 50,000 users in less than a year.
3. Pocket Protector’s core features, including Telegram-based perps and spot trading, will be incorporated into dYdX’s main platform.
4. dYdX aims to transition from proving the concept to scaling up, focusing on user experience and expanding its product offerings.
5. The acquisition reflects a trend of decentralized exchanges adopting messaging-native tools to reduce onboarding friction.
Description
Key Takeaways: dYdX has acquired Telegram-native app Pocket Protector. Co-founders Eddie Zhang and Kaiser Kinbote will join dYdX as President and Head of Growth. Messaging-integrated trading is emerging as a frictionless gateway to DeFi, especially in markets with limited access to desktop platforms. dYdX has acquired Pocket Protector, a Telegram-native trading app, to expand its product suite and accelerate growth. According to a statement published by dYdX founder Antonio Juliano on July 16, P...
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