Public Testnet Launch for dYdX’s Cosmos-based Blockchain
Decentralized exchange dYdX has announced that it will launch the public testnet of its Cosmos-based blockchain on July 5, 2023. This launch is part of their mission to democratize access to financial opportunities.
- The initial testnet will only work with Bitcoin and Ethereum markets
- Future upgrades will introduce over 30 more markets
- Testing will include viewing the order book, connecting wallets, and viewing account information
- dYdX plans to launch its mainnet after completing Milestone 5 in September
dYdX’s Transition and Milestone Achievements
dYdX has transitioned from StarkEx to its own application-based blockchain created in the Cosmos ecosystem. Their five-step plan includes gradual testing of the blockchain before the mainnet launch. The testnet launch is ahead of schedule, with the completion of the fourth milestone. Milestone 4 includes features necessary for the public testnet launch, such as a larger number of validators and the integration of Bitcoin and Ethereum markets.
- dYdX has completed Milestone 4 ahead of schedule
- The fourth milestone includes the integration of Bitcoin and Ethereum markets
- Feedback and suggestions from the community are encouraged
- The DYDX token price has seen a minor increase
Hot Take
dYdX’s launch of the public testnet for its Cosmos-based blockchain is an exciting development in the decentralized exchange space. By democratizing access to financial opportunities, dYdX is paving the way for a more open and transparent financial system. The successful completion of Milestone 4 ahead of schedule demonstrates dYdX’s commitment to delivering their blockchain solution. With future upgrades planned to introduce more markets, dYdX is poised to make a significant impact in the crypto ecosystem.
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