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AMA: Inside the dYdX x Crypto.com Onchain Wallet Integration
Recorded: July 8, 2025 Duration: 0:29:07Space Recording
Short Summary
DYDX and crypto.com have announced a strategic partnership to enhance on-chain trading experiences, leveraging each other's strengths to attract a broader user base. With a focus on mobile-first solutions and innovative trading features, both platforms aim to capitalize on the growing trend of decentralized finance, targeting increased user engagement and market expansion.
Full Transcription
I'm not sure what you're doing. Hey, can you guys hear me now?
Yeah, sorry, no idea what happened there.
I think either my connection dropped or something with spaces went wrong.
No worries.
Hey, Antonio, thanks for rejoining.
Yes, of course.
So, yeah, I guess we can get straight back into it.
Thanks everyone who did join originally and is now back in.
Apologies, I had a bit of a technical issue.
So I guess the first question for Antonio,
what does this integration mean for DYDX
and what does it represent for the future of on-chain trading?
Yeah, well, we're really excited about it.
I mean, this is a big part of the strategy going forwards.
And I think a big part of what makes DeFi special is that it can be something that's
really widely used, even on products that aren't titled DYDX.
We really think of DYDX as a protocol and a backend that is decentralized and something
that has the ability to support perpetual trading on all kinds of different products
from ones that are really professional, like you'd see on the DYDX web product, to wallets, to other things. So it's
something we're really excited about having live. Awesome. Isha, is there anything that you'd like
to add to that? What does this mean for the crypto.com team? Yeah, sure. I think it's quite
evident that, you know, for the past few months, you months, since there's a change in the U.S. administration, there's some clarity on the DeFi space.
We've been seeing more on-chain activity, whether it's trading, staking, etc.
So we acknowledge that Web3 on-chain is a significant part of our future, and we want to double down and continue building on it.
So the on-chain wallet is the perfect product to start with.
A wallet is basically the gateway for all Web3 users.
And by owning this platform and choosing the partners
we work with, we're able to let users have the experience
they are used to, and they can also have access to the products
that we choose and create for them.
So DYDX is a great partner.
And by this integration, we can then
let users be able to see and trade easily
with what has been built for a few years
and has proven to be very robust and
very powerful. So yeah, super happy about this. Awesome. And what made DYDX the right partner
for bringing sort of the advanced trading into the on-chain wallet experience?
Yeah, so I think we have all seen there are multiple DEXs coming out through the cycle.
all seen there are multiple DEXs coming out through the cycle. And we have gone through
a few partners and DYD extends out as the leader in this decentralized trading because they have
been better tested. The infrastructure has been better tested, they have processed over
1.49 trillion in trading volume. So how we're choosing it is we want to make sure that we
partner with someone that we can rely on. And DYX is definitely one of them. And apart from it, I think in terms of the mission,
we're quite aligned. We want to expand this advanced trading to users with self-control
and also security. And also DYDX supports the widest range of trading pairs, I think over 200
trading pairs. Yeah, absolutely. that's definitely a super exciting partnership with crypto.com definitely something
that we've been looking forward to for most of the year um antonio how does this partnership
align with the broader vision for sort of a mobile first self-custodial trading for dydx
yeah so mobile has always been a pretty big part of what we're doing at DYDX. I think currently we have over a third of our users or so trading on mobile apps, and that's just on the DYDX native products.
And following up on what I was saying before, this is part of why we're so excited about an integration with a really amazing partner in crypto.com and their on-chain wallet experience.
Because the number of users using perps still is quite small.
Like even on DYDX, it's in the thousands.
Even if you look at something like Hyperliquid,
it's only a few tens of thousands of users.
But if we're looking to expand that to the masses,
then we have to think broader in terms of
where is that product experience sitting.
And I think the product experience on dydx.trade
is always going to be a big part of it,
but we're really looking to expand that
into the hands of more users right in their pockets
with the wallets that they already have.
And crypto.com is a great first experience for that.
Now, that's super interesting.
And then talking on sort of the more product
and tech side of things,
can you just walk us through what users can actually do within the new integrated run experience?
I mean happy for either you or Isha to go through this one.
Yeah, maybe I can start first, right?
So the way we think about this is we don't want to rebuild the experience that the YDX team has already built on their mobile.
We want to make this a very simplified, even more
towards a gamified experience.
So if you're one of the users who has our app
and you're not in a restricted region,
you'll be able to see perpetuals as one of our bottom naps,
which means that there is a permanent place for users
to enter into perpetuals and see this function.
And once you go in, it's going to be
like a simplified chart.
That's kind of real time with the line moving
in a very beautiful color.
And we only have two options.
You can choose up or down.
So how you can think about it is they can almost just place
the order, place a bet on whether it goes up or down
without having too much commitment,
without having to draw multiple lines.
Because this is a mobile first gamified experience.
And this is how we're thinking about it at the moment.
And it's proven to work.
It's not the first time we integrated with Perpetual Dex.
So we feel quite confident in this design.
But obviously, we're still doing user interviews
and trying to get feedback on how to
improve. But in terms of the user experience, we want this to be gamified. And to share a little
bit more, one very interesting user interview stood out was when I talked to this user. He
told me that because the trading amount can be as small as $1 and they can go up to 50x leverage,
they almost feel like there's no pressure.
They can sleep at night when they have an open position.
And the stop loss is when they're liquidated.
So it feels more like an easy way for users
to understand what perpetual is.
So yeah, so that's kind of the direction we're going.
We're obviously looking for things to add on, like stop loss, take profit, limit orders.
But yeah, at the moment, if you had a chance to go into the app, you can see for yourself
how we've designed it with all the colors and trying to make it really exciting.
No, for sure.
It's definitely a super smooth sort of mobile experience and definitely good to educate
those new users, given that this is an advanced trading product. Question from Antonio, what makes DYDX's infrastructure uniquely capable of powering
institutional grade trading in a DeFi setup? Well, it's been something we're focused on for a long
time. We really think of DYDX as one of the leading pro trading platforms within DeFi. And
you heard Esther talk about it, but that's really where we started,
is having a lot of the crypto trading firms trading on DYDX, having a good base of prosumer
type users who are really power type traders trading on the platform. And now with the
expansion of the platform through some of these integrations like crypto.com, we're really trying to expand it into more retail trading.
You heard Esther use the term gamified.
And I think another way to talk about that
is just making the experience really approachable
to all kinds of users.
And this is something we've seen DeFi really work well for.
Even if you look at the evolution of spot trading DEXs,
you see them proliferate through
a lot of different types of user experiences. There's really simple places that you can just
swap like Uniswap. It's integrated into all kinds of wallets. And that's really where I think perps
are going to. So just starting with this pro trading powered platform and then expanding it
up down from there into more simple types of users
I think is the way to go. Awesome. Maybe one fit you should hear. So what kind of feedback have
you touched on a bit earlier about the feedback, but what have you received from the early users
since the integration has gone live? Yeah, I think you can talk about the bad things first, right?
And then we can talk about the good things.
So things that we can improve on is definitely
trying to make the deposit flow a bit better.
I think that is the first step for users
to be able to true trade.
So I think being able to deposit on the DYD exchange,
which actually we are trying to improve on that as well,
would be a huge unblock for us to go towards mass adoption.
But in terms of the more positive and constructive things
that we have also seen are they want more order types.
So I mentioned just now limit orders
and it be able to set up stop loss, take profit.
Those are some things that we have heard about.
What else?
I think being able to share their performance
is also one really cool feature that I have heard about.
Users who did a 50x and they see that they got a 3,000% return,
they want to be able to share it with their friends
in a really nice graphic and
those are the things that can also help with our adoption right like a referral program even
but yeah i think uh by doing the spaces and you know getting the product out there we're also
looking for you know open feedbacks for sure yeah and i mean just uh something for the community
here like if you guys do have any feedback or have used the product, feel free to either just DM us on Twitter or comment on the post when you see them.
And yeah, everything is valuable to us and we definitely ingest a lot of it.
Another question for Antonio.
So has this integration changed the target user group for DYDX?
And are you seeing more sort of mobile native retail first users now?
Yeah, so it's just the beginning of that.
Yeah, so it's just the beginning of that.
But it really is, like I was saying, the way that we want to expand over time as a platform.
And I think that's the cool thing about DeFi is it's a place where a lot of different types
of user segments can come together and all trade on the same platform.
Like if you're using most centralized exchanges, it's fairly segmented in terms of whether you're using like the advanced version of the exchange or whether you're using the more swap kind of retail focused version.
But on DeFi, the same platform can power all types of different experiences.
And again, we saw that really play a huge role in the expansion of spot DEXs.
of spot DEXs and now we're really starting to see it in perps as well.
And now we're really starting to see it in perps as well.
Perps for a long time have been something that are just targeted at a really small
number of users within crypto and still they're the biggest product within crypto,
like 75% of all trading volume in crypto happens on perps, right?
And so we think it's a really exciting time where DeFi has finally gotten good
enough where it can expand to more of these simple types of users.
And perps are starting to play a really big part in that too.
We've talked about a bit our strategy internally
on the new DYDX Simple mobile products
that we released a couple months ago.
And then I think continuing to expand downwards
into other types of wallet integrations
that are bespoke to a given wallet's users
is really exciting.
No, absolutely. And this integration definitely contributes a lot to this sort of more broader
sort of DeFi adoption at the moment. Looking onto the future and sort of more collaboration,
are there any more features or enhancements planned down the line for this integration?
Happy for either of you to take this one.
Yeah, I think what you see right now is just the beginning.
I think our team has given me feedback that it's been an absolute delight to work with the DYDX team.
So I think we have a constant communication channel open about how we can improve it,
how we can bring adoption and awareness to this product as well.
I think I can mention it, but we're going to have a training competition soon
and that will be a big exciting one.
So yeah, you heard it first here, unless I'm not supposed to mention it.
No, that's cool. We've actually just been preparing all the stuff for that, but definitely exciting for all you listeners here.
You're lucky because you've got first-hand knowledge on the trading comp that's coming up, but yeah, more on that to come.
Isha, does this open the door for integrating other DeFi protocols via on-chain wallet? Yep, absolutely. So how we see it is our wallet is going to be the place
where users can access the most pop-notch DeFi protocols,
including trading, perpetual leverage trading,
and also staking.
And so yeah, we are definitely looking
at other DeFi protocols.
But what I do want to stress is we don't want to make it overly complicated for our users.
And by that, I mean, since the YDX has a wide range of trading pairs already, and they also
cover deposits from a wide range of chains, there isn't a reason for us to further expand
if the new partner doesn't have a lot of added values.
We need to choose our partners carefully
and make sure that the incremental effort also
brings incremental value to our users.
So yeah, I think right now we're quite happy with the scope.
But I do want to say that I have grown an interest
into looking at leverage, tokenized stocks.
So tokenized stocks, I think it was trending last week
when StocksFi was launched on Solana,
allowing people to buy tokenized stocks.
I think the next thing naturally would be,
how do I do it on leverage?
So I think that's something that I have my eyes on
and would be very excited if we can support it within the wallet itself.
Yeah, that's actually something we've been focused on
potentially in the future at DYDX too.
You mentioned DYDX having over 200 pairs available on perps
and I'll call it real world assets generally,
but that's definitely something we're looking into supporting.
One of the things DYDX launched last year is the instant market listings feature,
which lets users come and add any type of market they want to trade.
Really, all we have to do as the software developers is write code
that enables different types of assets to be traded.
And then after we do that, there's hundreds, if not thousands,
of things that can be added to the platform after that.
So I think DYDX has built a lot of the tools already that make expansion into novel types
of assets, whether they be real world or really novel things within crypto possible.
And that's one of the reasons that I think you see some of the partners going with DYDX
because those new pairs can be really exciting.
For sure.
And I'm glad you guys touched on that because that was actually my next question
was around leverage tokenized stock so I appreciate that and definitely super exciting.
Before we get into the final question just want to remember I'll just highlight to the community
that we will be getting into your questions soon so if you do want to ask a question please request
I'll invite you to the stage to speak. Once you ask your question then we'll invite you to the stage to speak um yeah once you ask your question then um we'll
change you to the next person and please make sure to not shield any tokens and please use an
opportunity to ask questions about this integration specifically thank you um so on to the final
question for one for antonio what is the next in the pipeline for dydx and are there sort of more
partnerships like this on the horizon yeah there definitely are a few others that that we're
working through but but again, very
accepted about the crypto.com partnership. Echo what they've said too, they've been great to work
with and have been working really hard on the integration. And I think it's something that
will continue to improve from a product perspective as well. So very excited about that.
In terms of what else is coming, really, we've been focused on this big performance sprint that we've been doing just to make the trading experience, everything from deposits all the way through to how just the execution of the trades work on DYDX top class.
And I'd say we probably have another month or two to go on that.
Touched on this a little bit already, but later on into the year, we're going to be focused on more types of markets on DYDX.
Really our goal is to try to get to 500, if not more close to a thousand
markets listed on DYDX by the end of the year or so, which is something I'm
quite excited about.
And then we have a couple other things that we haven't touched on quite as much,
but things like spot trading that will soon be coming to DYDX as well that
I'm very excited about. For sure yes spot trading is definitely a huge huge thing. Right I mean
let's get into the community questions so I'll invite to the stage and then you can ask me a Donny Bliss, are you there?
Hi Donny, are you there? Okay, seems that they're inactive. Let's try piece 8.
Hi, piece 8, are you there?
Unfortunately we can't hear you if you're speaking.
Can you hear me?
Okay.
Yes, so my question is on the current partnership, do we have to look forward to, let's say, like a reward
system, like a point system? Because I just believe there should be something for the
community to benefit or to stand a chance chance to um you know show like a little
kind of appreciation i i know um the ydx are running a lot of campaigns currently to
not to boost the community engagement so i'm just asking that and also um
um i'm trying to so he said because on your list that you know he said um users can um list um
coins on ytx i've been trying to um to get some coins listed on ytx is it do i go through
application feeling or how do i go about about this so I know it's not related to this current topic,
but I'm just asking for,
because I work with projects
and some of them which are big on bank fund,
they would like to be listed,
but I'm just trying to ask how the how is the
other the process works so that yeah maybe there should be an educational content about this
because i i don't see any external content about this at all so thank you sir yeah i'll take the
second one first um so in terms of the listings, it's something automated on DYDX. So right now
we integrate with Radium and a couple other Solana DEXs as an Oracle source. So it's basically like
once something graduates from pump or whatever other launch pads, and then gets sufficient
liquidity, then it's eligible to be listed on DYDX. After that, there's no listing process.
It's pretty cool. Actually, you basically just go on the website and click a button to list it. It does require a small
deposit just for liquidity into an automated market maker vault. But after that, it's really
just self-serve for the users to add whichever markets they want to on the platform. In terms
of the first question there, yeah, maybe I'll let Esther talk a little
bit more about some of the incentives. One of the things DYDX that is available on the DYDX
platform right now is a points kind of rewards program as you were talking about that's global
on the platform. And then the crypto.com users will of course benefit from this as well.
And then the crypto.com users will, of course, benefit from this as well.
Yeah, thanks for that.
So we are running trading campaigns to incentivize users to encourage them to try the product.
And the way that we've designed this campaign is not just very seasoned, very professional traders can benefit.
I think we'll have some sort of criteria
that even new users will be able to benefit
from trying this product, right?
So I'm personally very excited
and it will be announced in a few days time.
And me and my PM team,
we're actually talking about doing an open trading challenge.
Obviously we will disqualify our own wallets
from being able to win the reward,
but I think by doing an open competition, we can make sure we experience the whole training
experience ourselves and then we can also share our feedback and show our progress with the
community. So yeah, you can follow myself, you can follow Sam, who is one of the PM here as well.
We'll be definitely sharing the journey through this.
Awesome, thanks, Eisha. Remarks, are you there?
Okay, seems to be disconnected. Kelvin, can you hear us? Hey Kelvin, are you there?
Yo, I'm here. My question actually is on the platform.
I actually turned on my VPN and it actually restricted me so I can't assess it.
I don't know if there's a solution to that actually.
Hmm.
You're openly asking me about getting around the restrictions that we have placed.
I don't think I can advise a technical go around with that because we are both a very compliant protocol and a product.
I hate to say this, but you know in terms of getting around it
you'll have to ask your friends that's funny she didn't have to answer that one um the chronos
beggar are you there gmgm can you guys hear me yep i just have a question about the whole dydx
and crypto.com on-chain wallet integration. So is this going to work for both sides?
Like on-chain users will be able to get to the DYDX protocol easier
and DYDX to the on-chain easier?
Yeah, basically.
And I can touch on this more,
but it's pretty much just a native integration
into the crypto.com on-chain app.
So it's like in the bottom nav bar,
there'll be a spot for perpetuals. If you click on that, then you'll just use their UI and under the hood,
it'll be going through DYDX.
Yeah, a hundred percent what you said, and because it's powered by DYDX, right?
So even if you trade through the on-chain wallet, you'll still be able to, you know,
earn the points on the DYDX protocol.
So I think just basically a very seamless native integration.
Great, I think we have time to squeeze
just one more question before we drop.
Kronius, are you there?
Cue me up, and I hope you guys can hear me.
Yep.
Perfect.
So I have a question for Antonio and I have a question for Esther.
I hope that I can direct them directly.
Antonio, you talked about pump.fun and that you integrate tokens directly from there when
they graduate.
So on Kronos, you maybe already heard that we also have some analogues to pump.fun
and I was just wondering if those are included into this.
I can now ask also the question to Esther or firstly answer, let you answer just as you would.
Sure, I'll take that one.
So it's not something we have integrated yet, but the system is pretty extensible in terms of like I was saying,
all we really have to do is add more oracle sources that's the only thing that we need in order to
support and renew classes of assets so so yeah it's definitely something that we can look into
in the future um whether that's our team directly or if the whole protocol is open source so it's
really something where external teams can can build those types of integrations themselves as well. That's something that's quite valuable. Really nice. The people will love this.
They will really honestly love this. And now maybe the question for you, Esther, like there are tons
of new possibilities coming up with this corporation. How will the user flow or the all-day
life, you know, from somebody using the Onshade wallet change
through this corporation? I bet there are tons of possibilities and I'd love to hear a small
outside from your side here. Yeah, definitely tons of opportunities, right? I think in our
wallet right now, we try to make it very simple. So we have a discovery first mode. And then within that discovery mode, which is kind of our home,
you'll be able to see the cards at the top.
And we use those cards to inform users what is trending.
So one of those cards would be the biggest perpetual winner.
And then you can see this person going 50x on ETH
and then earning 100% return.
So that's something that's intriguing for the users,
for them to understand that, hey, you can actually
do leverage on a certain type of token.
And we also have a card for the most traded meme coin,
and also a card on just what is trending.
And with this integration, we'll be
able to show users how it is possible for them
to actually generate more wealth through the on-chain experience.
I think some of them might not be able to have access
to leverage trading in their home countries,
and they will be able to do so now.
Some might not feel secure to do it on a centralized exchange,
and they feel more secure if they own their own keys,
and then they will be able to have a much better experience now. So all these are just the beginning.
We will keep having users interviews, we'll keep talking to you guys
to get feedback and keep improving the product.
Amazing. Yeah, thanks to the community for all your questions. I think we're going to wrap it up
there. Antonio, Isha, is there anything that you wanna mention
before we drop off?
No, I think this is a great space.
Thank you everyone who has asked questions
and thank you Antonio for speaking with me
and thank you Jason for hosting.
Yeah, really appreciate it as well.
And again, very excited about this integration.
And I think this is a start of a really strong partnership
and just a broader movement
within the DYDX ecosystem to expand perps and pro trading generally to more types of
users and more places.
So yeah, thanks again.
And really excited working with the crypto.com team.
Awesome.
If you guys want to stay updated on all the latest with the integration, please keep an
eye on our Twitter or either join our Discord.
We'll be providing regular updates,
especially the exciting thing coming this Friday
with the trading competition.
But yeah, again, thank you for all your questions
and hope you guys all have a good day.
Awesome. Thank you.
See you guys.
