On September 16th, the 'FAT Awards 2024' annual ceremony grandly opened at the Conrad Hotel in Singapore.

"FAT" is a list celebration and summit forum brand founded by Odaily Star Daily in 2020, aiming to commend the leaders and innovators in the Web3 and encryption industries, focusing on value paradigms and Consensus moments. In 2024, as the encryption industry is rapidly changing and the narrative becomes a mainstream world, fresh narratives emerge, ecologies flourish, and high-quality projects are launched one after another, Odaily Star Daily once again opens the FAT list selection and holds an offline celebration.

At the event, dYdX Foundation CEO Charles d'Haussy delivered a keynote speech. Below is the full transcript of Charles d'Haussy's on-site speech, carefully compiled and translated by Odaily Star Daily, enjoy~

The dYdX protocol has high liquidity

The history of dYdX can be traced back to 2018, and later it became one of the earliest Layer 2 protocols. Although dYdX only focuses on one type of trading, our volume has exceeded 10 trillion US dollars. Later, we decided to build our own chain instead of relying on other blockchains. That's why in December 2023, we launched the dYdX chain together with other partners.

Thanks to the ecosystem and strong assets of dYdX, we achieved the target volume in less than 1 month. According to current on-chain data, dYdX's volume is about 2.25 trillion USD. It can still accept other trading pairs, currently there are about 140 active trading pairs on-chain, and there are other collaborators, which allows us to propose over 144 proposals and suggestions to promote the development of the chain.

Developing our own chain does not mean that we are isolated. We can connect to other chains, one of which is Solana, where we integrate all markets tradable on Solana, all of which can be listed on dYdX, with over 800 tradable markets now available on dYdX.

Thanks to the governance mechanism of dYdX, any non-decentralized project already deployed on Solana can be listed on dYdX for free within 4 days. If you have a new project, you can inform the community that you want to list it for free on dYdX. Then, the community governance will vote on the new project.

How do we bring additional efficiency and Liquidity to the dYdX chain

The Token unlock amount of dYdX decreases by 75% monthly, and we are also planning the next upgrade. Currently, many systems classify themselves as Decentralized Finance, and they also have DAOs, funding pools, and related activities. At the same time, they are discussing with partners how to launch a chain like dYdX. For the existing dYdX, we are still Decentralized Finance, and there are many opportunities here.

Therefore, dYdX has built a DAO with the purpose of funding, which was launched for the first time in 2024 and has allocated over $5 million in funding to fields such as community, marketing, protocol, integration (with Keplr and Cosmos, etc.). 47 companies that were built together with the dYdX chain are also involved. They are also giving back to the community by continuously bringing users and validators to the chain.

Therefore, dYdX is excited to announce a phase called 'dYdX Infinite', where we drive the number of Decentralized Finance constructions that should be built. At the same time, this phase means that if you want to list certain projects or proposals, it will accelerate the construction of dYdX.

Next month the community will conduct another vote, when users trade with dYdX, they will interact with many chains in 'dYdX Infinite', and users can have specialized teams monitoring different market behaviors and providing Liquidity for them. Therefore, users can participate in governance voting to decide whether Money Laundering should be charged, and Liquidity fees can also be charged separately.