DydX Founder Suggests Crypto Developers Focus On Markets Outside The US

Cryptocurrencies have great enthusiasts outside the US. (Photo; Doc. Unsplash)

JAKARTA - Antonio Juliano, founder of the decentralized exchange DYdX, shared his views on the future direction of crypto developers. According to him, the main focus of crypto developers should be on serving the international market over the next five to 10 years.

Juliano argued in a post on social media platform X, which was followed by 49,400 followers, that uncertain regulations in the United States are not comparable to the complexity or compromise faced by crypto developers.

For Juliano, a better strategy is for crypto developers to build their products in other countries first, and then return to the United States in a strong position.

"Crypto developers should temporarily stop serving customers in the US and try to enter the market again within a period of 5-10 years. Most markets are actually overseas. Innovation should be carried out there, find a suitable product with the market, then return with more power..."

According to Juliano, the only thing that matters is that cryptocurrencies must develop products that have a market match 10 times more powerful. "You don't need to have the perfect distribution to do iterations and find a strong market match, as there are many large overseas markets that can be used for experiments."

Juliano explained that efforts to encourage more crypto-friendly regulations take time, but this can be accelerated if crypto developers succeed in creating products that are in demand by consumers.

"However, this does not mean that work in crypto regulation in the United States is not important. Of course it is important, because it takes a long time (so it needs to be ready to re-enter), and many countries will follow the steps of the United States," he added.

Crypto currently does not have a global-scale use or product market, so we don't have a big influence on policy formation. Therefore, we need to have products with extensive use, where users (consumers) explicitly say, 'This is what I need'."

The founder of DYdX went on to express his belief that in the end Americans would realize that cryptocurrencies had been designed in line with American values and principles.

"Crypto is in line with American values. What is more American and capital than the financial system that comes from the people, for the people, and by the people. That is at the heart of what we build here," he concluded.