dYdX Opens Source Code for Its Own dYdX Chain Blockchain
In preparation for the upcoming launch of dYdX Chain, the decentralized exchange (DEX) dYdX has announced the release of its open-source code for version 4 upgrade.
dYdX has unveiled the source code for its proprietary blockchain, dYdX Chain. Photo: dYdX
According to a release on October 24, the development team behind the decentralized exchange dYdX has opened up the entire source code for the v4 upgrade, which is set to formally introduce dYdX Chain.
Built on the Cosmos SDK, this version is designed to operate on its own app chain, namely dYdX Chain.
1/ It’s finally here 🎉
— dYdX (@dYdX) October 24, 2023
Today, we’re proud to present and fully open-source the completed dYdX Chain!
This is the next chapter for dYdX and we’re so excited that it’s here.
Let’s get into the details:https://t.co/ydil2jkqJs
The dYdX community now has access to review and assess the codebase of dYdX Chain, providing feedback on its development.
However, the mainnet deployment of dYdX Chain still awaits community voting, scheduled for Q4/2023.
Additionally, the dYdX development team plans to further decentralize the project by transferring control of several key protocol components to the DYDX community and ceasing transaction fee collections.
Antonio Juliano, founder and CEO of dYdX, stated:
"The release of the open-source code for dYdX Chain marks dYdX's full decentralization and is a major step towards democratizing access to financial services for the community. With dYdX Chain, dYdX aims to bring transparency and security to derivatives trading with a community-governed programmable trading platform."
Currently, dYdX is the leading DEX in derivatives trading volume within the cryptocurrency market, averaging USD 1 billion per day.
The price of DYDX token has surged by 32% in recent days, driven by the strong recovery in the cryptocurrency market.
Chart of the DYDX/USDT pair on Binance at 09:10 PM on October 24, 2023.
