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dYdX Acquires Pocket Protector: A New Era for Telegram Trading

dYdX has announced its acquisition of Pocket Protector, a Telegram-native trading app that achieved an impressive $1 billion in trading volume within its first year.

This strategic move aims to enhance dYdX’s product offerings and accelerate its growth trajectory in the competitive crypto space.

The leadership team from Pocket Protector, including co-founders Eddie Zhang and Kaiser Kinbote, will be integrated into dYdX, with Zhang assuming the role of President and Kinbote as Head of Growth.

Incorporating Pocket Protector's features like Telegram-based perps and spot trading will further strengthen the dYdX platform, aligning with its goal to innovate user experience.

Antonio Juliano, founder of dYdX, highlighted Zhang's extensive experience from his time at Meta as a key factor in this acquisition decision.

The integration process will not only involve the core app functionalities but also include a four-person engineering team joining dYdX’s broader product and engineering divisions.

As dYdX transitions from a foundational phase into user-facing expansion, hiring across various roles is also on the agenda to support its product roadmap.

The growing trend of Telegram-native interfaces indicates a shift towards frictionless trading experiences, especially beneficial in regions where messaging apps serve as essential financial tools.

Integrating social elements into trading platforms could play a crucial role in user engagement and community retention, setting exchanges apart in a crowded market.

With this acquisition, dYdX is positioned to not only enhance its core services but also redefine user interactions in the evolving landscape of cryptocurrency trading.