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Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Markuri33 on June 16, 2021, 01:52:39 AM

Title: Ethereum DeFi Exchange dYdX Raises $65 Million From a16z, Paradigm and More
Post by: Markuri33 on June 16, 2021, 01:52:39 AM

Paradigm led the round, with previous investors Three Arrows Capital and Polychain also joining. The raise follows the February release of dYdX’s layer 2 protocol (that is to say, a second layer built atop the Ethereum network) for “cross-margined” perpetual trading. Cross-margin enables traders to share their margin collateral across accounts, reducing the chance an individual trade defaults but also exposing the entirety of the user’s capital to possible liquidation. It’s one of the features that dYdX offers traders that sets its exchange apart from its competitors.source (https://decrypt.co/73651/ethereum-defi-exchange-dydx-65-million-andreessen-paradigm)