Ethereum

SubDAO

dYdX (ethDYDX)

Cosmos

<p class="is-style-lead">Crypto exchange dYdX has published open-source code for its new Cosmos-based blockchain.</p>
<p>The new code includes “protocol, order book, interface and more,” the release said. The publication of the code is intended to pave the way for the launch of the main network, which is organized by the <a href="https://crypto.news/tag/dydx/" data-type="link" data-id="https://crypto.news/tag/dydx/" rel="noopener noreferrer nofollow">dYdX</a> Decentralized Autonomous Organization (dYdXDAO) SubDAO on Operations.</p>
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   <p lang="en" dir="ltr">1/ It’s finally here 🎉<br><br>Today, we’re proud to present and fully open-source the completed dYdX Chain!<br><br>This is the next chapter for dYdX and we’re so excited that it’s here.<br><br>Let’s get into the details:<a href="https://t.co/ydil2jkqJs" target="_blank" rel="noopener noreferrer nofollow">https://t.co/ydil2jkqJs</a></p>— dYdX (@dYdX) <a href="https://twitter.com/dYdX/status/1716802093946921353?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 24, 2023</a>
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<p>The dYdX team is set to launch a new dYdX blockchain based on Cosmos (ATOM). They claim it will allow them to decentralize the exchange’s order book, taking the protocol out of the hands of the development team and making it truly decentralized. DYdX currently runs on the StarkEx solution, the second layer of Ethereum (<a href="https://crypto.news/price/ethereum/" data-type="link" data-id="https://crypto.news/price/ethereum/" rel="noopener noreferrer nofollow">ETH</a>).</p>
<p>The new code will allow the dYdX infrastructure to be “run by DeFi enthusiasts worldwide.” Once the mainnet launch is complete, the dYdX development team “will not use any part of the infrastructure to deploy the new dYdX blockchain.”</p>
<p>You might also like: <a href="https://crypto.news/dydx-winds-down-canada-operations-more-exchanges-exit-north-america-markets/" rel="noopener noreferrer nofollow"> dYdX winds down Canada operations, more exchanges exit North America markets </a></p>
<h2 class="wp-block-heading" id="dydx-mainnet-launch">dYdX mainnet launch</h2>
<p>The team has not announced an official mainnet launch date. Instead, the developers ask to “check out the dYdX Operations subDAO blog post” to learn more.</p>
<p>Before this, dYdX Operations proposed a phased launch of the main network. The proposed alpha phase will allow token holders to stake their tokens and receive staking rewards, but trading will not be available. The beta phase will allow for trading and further testing. The announcement does not indicate launch dates for these phases.</p>
<p>In March 2023, the company <a href="https://twitter.com/dYdX/status/1640336517762543621" target="_blank" rel="noopener noreferrer nofollow">announced</a> the launch of a test network. The platform will allow development teams to create their networks using Cosmos SDK tools.</p>
<p>At the same time, independent blockchains can interact with each other. dYdX explained the reasons why they are abandoning Ethereum. The main factor is the lack of scalability.</p>
<p>You might also like: <a href="https://crypto.news/dydx-trading-transitions-to-public-benefit-corporation-foregoes-v4-trading-fees/" rel="noopener noreferrer nofollow"> dYdX Trading transitions to public benefit corporation, foregoes v4 trading fees </a></p>

dYdX published open source code of its blockchain

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