Thread by @AntonioMJuliano

dYdX’s vision remains large. It will take decades to build DeFi into everything it will become

I feel driven to my continued part in this as the founder & leader of dYdX

Towards this goal, I am transitioning from CEO to President of dYdX Trading Inc.

dydx.exchange/blog/my-next-s…

This reflects how the company has already been operating for many months

@ivo_crnkovic and the rest of the leadership team have been operating the company while I have continuously moved to focus on defining the vision, strategy, and culture of dYdX

I have found this is the optimal way for us to work. It has allowed us to build faster than ever, while giving me the most clarity I have had on where we’re going and how we get there

I have no plans for what comes next, and dYdX remains my top priority

My founder journey so far has left me a vastly changed person

I was initially motivated by competition, winning, and achievement. Today I am motivated by creation, passion, and connection

I realize now we are building something much larger than ourselves, and this is what drives me

For 5+ years, I personally built and drove dYdX from the front

I am proud to have been a pioneer in what financial smart contracts look on Ethereum, how to scale a working product with L2, and how to decentralize it through an app chain

For the last 2 years I’ve learned how to lead and empower others to build

I have found fulfillment in this, and continue to strive to be the best leader I can be. This move is a culmination of my journey from building to leading

We have made many bold bets and this will never stop. It is who I am. It is what dYdX is

This transition is a big bet for me and how we operate as a project

It scares me, and it is a big change for dYdX. But as I have continued to go all in with each new thing we do it has continued to bring us towards exponential success, and me towards greater peace

It has been incredibly hard and sad for me, and I believe also for the company

I have chosen not just to work with great people, but with my friends. Effectively all of them. Not being as in it with them each day has made me feel set apart and alone

But I have realized that a leader must stand apart, and go forwards

I accept this now, and believe this change is how I will today be the best leader of dYdX

I have full faith in @ivo_crnkovic and the rest of the team to drive dYdX day to day

Again, this is how the company has been operating for a while now so is not functionally a big change. It is felt more from a spiritual perspective but I have confidence feels hard but right

dYdX is not finished. Not even close. The opportunity is bigger than ever now

What we build will be determined in decades. I remain incredibly excited for that journey and my new part in it

Onwards