Key notes
- Dydx has made a strategic movement with the acquisition of Pocket Protector.
- This is the very first external acquisition in which Dydx will participate.
- The acquisition of Pocket Protector suggests that the performance of the company has improved.
Decentralized decentralized decent derivatives have made a strategic decision with the acquisition of Pocket Protector, a Social Crypto trading platform. This is the very first external acquisition that the decentralized funding protocol (DEFI) will launch.
Dydx and Pocket Protector Acquisition Highlight
After the acquisition of Pocket Protector, a large percentage of its engineering team will join Dydx. In addition, the co-founders Eddie Zhang and Kaiser Kinbote will join Dydx as president and chief of growth, respectively. According to the founder and CEO of Dydx, Antonio Juliano, Pocket Protector had a total workforce of nine before this acquisition.
The two companies began to discuss the agreement in March and successfully concluded it about a month later. According to Juliano, the agreement was funded using a mixture of token in cash and Dydx, although it has not mentioned the specific value of the acquisition. With this agreement, Dydx develops in new forms of trading. It also plans to integrate social features in its main products.
Juliano claims that he is enthusiastic about the fact that Zhang and Kinbote come in leadership roles in the company. Previously, Zhang was the former product chief at Messenger on Meta Platforms. He also co -founded the FAM social application and spent some time working on consumer growth at Eventbrite.
Similarly, Kinbote has up to a decade of experience in the development of crypto-native products, including growth led by products, tokenomics and the strengthening of the community.
Meanwhile, the dydx
dydx
$ 0.68
24h volatility:
4.4%
COURTIC CAPESSION:
$ 508.95
Flight. 24 hours:
$ 31.79 M
The token is now negotiated at $ 0.6802 after an increase of 3.94% in the last 24 hours. Stimulated by the update linked to the acquisition, the market capitalization of the token is around $ 507 million and has an entirely diluted assessment of around $ 645 million.
Dydx goes from the struggle to the acquisition
Expansion is an important decision for Dydx, given the challenges he faces the previous year. In October 2024, DYDX reduced its workforce by 35%, which has an impact on the members of the basic team and operations staff. Juliano explained that a leaner team was necessary for the company to achieve its future vision, especially in the overcrowded decentralized finance sector (DEFI).
At the time, the total value of locked Dydx (TVL) lowered considerably, but today, the situation is different.
As the conditions have improved within the company, Dydx decided to launch an ecosystem program for developers in December. DYDX approved an allowance of $ 4 million to support the developer’s ecosystem program (DEP) for 14 months, which should expire around February 2026. He financed the Subdao platform treasury program.
The protocol arrived at this decision after a community vote, proving again the strength of its decentralized governance model. In the end, 43 Active validators out of 60 and 813 accounts which participated all voted, to move forward the proposal. The participation rate was 57.38%, with 75.02% voting in favor of financing and 0.11% of “no” voting.
These $ 4 million is designated for program expenses, including subsidies and incentives to developers who contribute to the infrastructure and tools of the platform.
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Benjamin Godfrey is a blockchain enthusiast and a journalist who savor the writing of actual applications for blockchain technology and innovations to stimulate general acceptance and global integration of emerging technology. His desire to educate people on cryptocurrencies inspires his contributions to renowned media and blockchain sites.
