Today, I made the incredibly difficult decision to lay off 35% of the dYdX core team. We now have the team we need going forwards, but first we say goodbye to those who have left.
Today we said goodbye to many of you. Our friends and teammates. You are the people who have put years, dreams, and yourselves into the company. You have been dedicated teammates through the good and bad. You continued to build dYdX, even when I did not.
Each one of you has excellence, integrity, and authenticity. Thank you to each one of you for what you have given dYdX.
There's much sadness in the end of the large part dYdX has played in each of your lives, and the large part you have played in dYdX. We have created an amazing community where we care about each other as people, not just "coworkers". I'm proud of that more than anything else we've built. That makes these moments of losing not just coworkers, but friends, all the more deeply heartbreaking.
But what we have built is not so easily lost. The friendships, experiences, products, and love will remain. We who continue on will always keep our hearts and doors open to you. I have seen this over and again, and it will continue. What we are building is much larger than just a company, and this you will always be a part of.
The decision to let go was a realization that the company we’ve built is different from the company dYdX must be. We will move forward with clarity and renewed passion. We will create amazing things.
Though there is pain in parting, I know you will do the same. I can’t wait to see what you create with the learnings, inspiration, and relationships you gained from dYdX.
Thank you for the long awaited product launches, memorable team offsites, nights on the beach in the rain, and nervous first interview we shared. Thank you for leaving a part of your self with me and dYdX.
Fly on.
Legitimacy and Disclaimer
Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets.
dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as in other restricted jurisdictions. The dYdX Foundation does not operate or participate in the operation of any component of the dYdX Chain’s infrastructure.
The dYdX Foundation’s purpose is to support the current implementation and any future implementations of the dYdX protocol and to foster community-driven growth in the dYdX ecosystem.
The dYdX Chain software is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain and/or its software or related components be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever. The dYdX Foundation does not make any representations, warranties or covenants in connection with the dYdX Chain software (or any implementations and/or components thereof), including (without limitation) with regard to their technical properties or performance, as well as their actual or potential usefulness or suitability for any particular purpose, and users agree to rely on the dYdX Chain software (or any implementations and/or components thereof) “AS IS, WHERE IS”.
Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. Users should conduct their own research and due diligence before making any decisions. The dYdX Foundation may alter or update any information in this post in the future at its sole discretion and assumes no obligation to publicly disclose any such change. This post is solely based on the information available to the dYdX Foundation at the time it was published and should only be read and taken into consideration at the time it was published and on the basis of the circumstances that surrounded it. The dYdX Foundation makes no guarantees of future performance and is under no obligation to undertake any of the activities contemplated herein.
