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**DeFi Protocol dYdX Acquires Pocket Protector in Bold DeFi Expansion**
In a surprise move, decentralized derivatives exchange (DDEX) and lending platform dYdX has announced the acquisition of crypto social trading platform Pocket Protector. This strategic expansion is expected to take its already growing momentum to new heights as it pushes into uncharted territory.
As per the report, the deal marks the first-ever external acquisition in the company’s history. The addition of Pocket Protector’s engineering team will bolster dYdX’s capabilities in areas such as social trading features and expanded services for users.
The acquisition is seen as a significant milestone for the DeFi protocol, considering its recent growth trajectory. It has already demonstrated its ability to pivot away from the challenges faced in 2024 when it reduced its workforce by approximately 35%. That move aimed at achieving its future vision, which now seems within reach with this acquisition.
The integration of Pocket Protector’s talent will also bolster dYdX’s developer ecosystem initiatives, such as a recently launched $4 million Developer Ecosystem Program (DEP). The DEP, voted on by the community, has been allocated funds from the treasury subDAO and is expected to expire in February 2026. This commitment to supporting developers is seen as an important step in solidifying its position in the market.
It remains unclear at this time what specific benefits users can expect from the acquisition. However, dYdX’s founder and CEO Antonio Juliano expressed his excitement regarding the addition of new leadership talent, particularly with former Meta Platforms lead Eddie Zhang joining the team. With a diverse background that includes consumer growth experience at Eventbrite, Juliano believes this strategic move will further enhance its offerings.
The acquisition comes after the company has seen significant improvements in its business operations. The deal has sparked excitement among investors and users alike, as it may well be a game-changer for dYdX’s future prospects.
With the acquisition, the protocol is poised to make a major impact on the cryptocurrency landscape.
Source: www.coinspeaker.com
