Antonio Juliano, founder of the decentralized exchange dYdX, and Eli Ben-Sasson, cofounder of StarkWare, discuss the recent launch of dYdX on Ethereum layer 2 using StarkWare’s scaling technology. In this episode, they cover:
what cross-margin perpetual trading is and why dYdX chose StarkWare to be its scaling partner (1:13)
ZK rollups and how they contrast with optimistic rollups (8:49)
how many transactions per second StarkWare can handle through its layer 2 solution (16:57)
lessons learned and critical takeaways from their six months spent working together (20:15)
the similarities between Ethereum and StarkNet (26:07)
why Antonio believes that scalability is more important than composability (27:30)
the benefits of decentralized exchanges and how dYdX fits into the dex marketplace (31:54)
why dYdX chose Chainlink as its oracle provider, and how it got oracle prices onto layer 2, which previously had none (38:11)
why Cairo, StarkWare’s Turing-complete programming language and platform, can be the “one verifier to rule them all” (42:10)
what it was like for StarkWare to compete in the Great Reddit Scaling Bake-Off (45:41)
whether or not DeFi could handle a GameStop/Robinhood situation (48:56)
fair launch tokens versus VC tokens (54:12)
the likelihood of dYdX and StarkWare each creating a token (58:19)
upcoming developments and projects for both companies (1:02:14)
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Episode Links:
Antonio Juliano
Twitter: https://twitter.com/AntonioMJuliano
Eli Ben-Sasson
Twitter: https://twitter.com/EliBenSasson
dYdX
Twitter: https://twitter.com/dydxprotocol
Website: https://dydx.exchange/
Exchange: https://alpha.dydx.exchange/trade/BTC-USD
Reading Material
Recent funding: https://www.coindesk.com/big-guns-back-10m-investment-in-defis-dydx
2020 in review: https://dydx.exchange/2020.pdf
Decrypt profile: https://decrypt.co/resources/dydx-ethereum-margin-trading-platform-explained-learn
Medium post: https://medium.com/dydxderivatives/introducing-dydx-2d0f0f326fd
StarkWare
Twitter: https://twitter.com/StarkWareLtd
Website: https://starkware.co/
Reading Material:
ZK roll-up explainer: https://medium.com/starkware/on-the-road-to-starknet-a-permissionless-stark-powered-l2-zk-rollup-83be53640880
Understanding Cairo: https://medium.com/starkware/hello-cairo-3cb43b13b209
Funding: https://www.coindesk.com/paradigm-leads-30-million-funding-for-crypto-privacy-startup-starkware
dYdX and StarkWare Relationship
Original Twitter announcement (2020):
https://twitter.com/dydxprotocol/status/1295791012552597507?s=20
The Block’s original coverage:
https://www.theblockcrypto.com/linked/75209/dex-dydx-starkware-layer-2
Layer 2 is live announcement:
https://twitter.com/dydxprotocol/status/1364591430447091719
Blog post on why dYdX is moving to Layer 2 (2021):
https://dydx.exchange/blog/alpha
CoinDesk’s coverage:
https://www.coindesk.com/defi-tech-cefi-speed-dydx-touts-new-starkware-integration
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