Antonio Juliano rejoins as dYdX CEO after 5 month break

Antonio Juliano, the founder and now CEO of decentralized exchange dYdX, has officially returned to the project after a six-month hiatus. Juliano initially stepped down from his role to find personal fulfillment but has since realized that his return is essential for the company’s future. After months of reflection, Juliano has decided to take the helm once again, describing this move as going “full founder mode.”

• Juliano had originally left dYdX to pursue personal satisfaction but found that his identity was closely tied to the project.
• He now believes the leadership needed to revitalize dYdX can only come from the founder.
• dYdX faces stiff competition in the decentralized perpetual exchange space, with major competitors gaining market share.

According to his blog post,

During his absence, Juliano experienced deep personal reflection, leading him to confront his motivations for founding dYdX. He described his journey as moving from achievement-driven motives to a more authentic connection with creation itself. In his own words, “I’m basically just going to blow it all up. We’re going to start over, go into founder mode as they say, to run the company myself.”

Juliano’s return comes at a crucial time. dYdX once dominated the decentralized perpetual exchange space, handling 80% of the $33 billion in volume in October of last year. However, in September 2023, that share dropped to under 7%, with competitors like GMX and Hyperliquid seizing a larger portion of the market. dYdX now faces a highly competitive environment as new platforms continue to proliferate in the space.

Despite these challenges, Juliano believes his return and renewed vision will drive dYdX toward reclaiming its position. He stressed the unique role a founder plays in guiding their company, stating, “As the founder, nobody will ever care or believe the way the founder does. It is theirs.” Juliano aims to reinvigorate the company, bring dramatic changes, and inspire a sense of vision that he feels only he can provide.