According to online reports, decentralized derivatives trading platform dYdX announced the acquisition of crypto social trading platform Pocket Protector, which is its first external acquisition. The deal will merge most of Pocket Protector's engineering team into dYdX, while co-founders Eddie Zhang and Kaiser Kinbote will also join dYdX as president and growth director respectively. Antonio Juliano, founder and CEO of dYdX, said Pocket Protector has a total of nine employees. Pocket Protector was founded last year and received $7 million in financing from investors such as Electric Capital and Dragonfly. The core product of the platform is a Telegram-based trading robot that allows users to trade with friends, follow top traders, and get real-time trading ideas. It has also developed an iOS app that is currently in closed testing-but Juliano said the app will not be released publicly after it is acquired.