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

"FAT" is a list and summit forum brand founded by Odaily Planet Daily in 2020, aimed at commending the leaders and innovators in the Web3 and crypto industry, focusing on value paradigms and consensus moments. In 2024, as the crypto industry is rapidly evolving and the narrative becomes mainstream, with fresh narratives emerging and a flourishing ecosystem, Odaily Planet Daily once again initiated the FAT list selection and held an offline ceremony.

At the event, dYdX Foundation CEO Charles d'Haussy delivered a keynote speech. The following is the full transcript of Charles d'Haussy's on-site speech, compiled and edited by Odaily Planet Daily, enjoy~

dYdX Protocol Boasts High Liquidity

dYdX's history can be traced back to 2018, and it later became one of the earliest Layer2 protocols. Although dYdX focuses only on one type of trading, our trading volume has exceeded $1 trillion. Later, we decided to build our own chain, no longer relying on others' blockchains, which is why in December 2023, we launched the dYdX chain in collaboration with other partners.

Thanks to dYdX's ecosystem and strong assets, we achieved our target trading volume in less than a month. According to current on-chain data, dYdX's trading volume is approximately $2.25 trillion. It still accepts other trading pairs, with approximately 140 active trading pairs on the chain, along with other collaborators, enabling us to propose over 144 initiatives and suggestions to drive the chain's development.

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

Due to the existence of the dYdX stack, any project that is non-native and already deployed on Solana can be listed on dYdX for free within 4 days, thanks to dYdX's governance mechanism. 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 We Bring Additional Efficiency and Liquidity to the dYdX Chain

dYdX's token unlocks decrease by 75% monthly, and we are planning the next upgrade. Currently, many systems classify themselves as DeFi, they also have DAOs, funding pools, and related activities, and they are also discussing with partners how to launch a chain like dYdX. For existing dYdX, there are still many opportunities.

Therefore, dYdX has established a DAO for funding purposes, which was launched for the first time in 2024, allocating over $5 million in funding to areas such as community, marketing, protocol, integration (with Keplr and Cosmos), and 47 companies building with the dYdX chain. They are also giving back to the community—continuously bringing users and validators to the chain.

Therefore, dYdX is excited about this phase, called "dYdX Infinite," where we drive the number of DeFi constructions. At the same time, this phase also 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, and when users trade on dYdX, they will interact with many chains in "dYdX Infinite." Users can have dedicated teams monitoring different market behaviors and providing liquidity for them. Therefore, users can participate in governance voting to decide whether transaction fees should be charged, and liquidity fees can also be charged separately.

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