Antonio Juliano Expects DeFi & Bitcoin ETFs to Drive Bull Market
Delve into the perspectives of Antonio Juliano, the brain behind the decentralized crypto exchange dYdX, as he shares his thoughts on the future of DeFi.
In an insightful conversation with Bloomberg Television, Juliano opened up about his vision for the future of the crypto market. Prior to founding dYdX, he cultivated his technical expertise as a software engineer at Coinbase, Uber, and the database management system MongoDB, and holds a computer science degree from Princeton University.
The spotlight has recently turned to Antonio Juliano, following dYdX’s latest platform update. At the close of October, the platform successfully launched its fourth iteration of code, marking the completion of its migration to a standalone blockchain within the Cosmos ecosystem. This pivotal move edges the exchange closer to achieving full decentralization and community governance—milestones that Juliano has been aiming for since his tenure at Coinbase.
DeFi is a financial system that's based on code it's fully transparent fully owned by its users. We're trying to build here is an open transparent Financial system for the world,Juliano underscores.
The platform steadfastly maintains its focus on trading crypto derivatives. In Juliano’s estimation, those financial tools command around 75% of the global crypto trading volume, with BTC derivative contracts reigning as the most traded asset on dYdX.
dYdX serves a broad spectrum of users, spanning retail to institutional investors. However, Juliano highlights that dYdX is not exactly a beginner-friendly platform.
“When people say retail traders I feel like people think about your grandma your friend who bought their first Bitcoin yesterday. That's not who dydx is targeting. We're really targeting more sophisticated individual Traders and giving them for the first time access to these powerful Financial Tools,” Juliano elucidates.
Furthermore, Juliano believes that innovations within the DeFi realm are poised to become major catalysts for the next bull run in the crypto market. He reminisces about the initial bull market, sparked by the ICO frenzy in 2017, followed by the emergence of the DeFi sector in 2020. Presently, he is placing his bets on Bitcoin ETFs and potential revolutionary strides in decentralized finance.
Yet, Juliano does not shy away from acknowledging the slower-than-desired pace of DeFi's widespread adoption. He attributes this to the requisite time for significant technological shifts, pointing out that DeFi has only been around for a mere five years. He foresees that the tangible impact of decentralized financial services on the market will become more pronounced in the next decade, which aligns with his long-term vision for the growth of his company.
I say to everyone our goal is to become one of the biggest exchanges in crypto but not this year, not next year in 5 to 10 years,Juliano declares.