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dYdX Releases Open-Source Code Ahead of Mainnet Launch Phases

dYdX Releases Open-Source Code Ahead of Mainnet Launch Phases

– The dYdX crypto exchange has released the open-source code for its upcoming Cosmos-based network.

– The code includes the protocol, order book, front-end, and more.

– The release of the code is a step towards the mainnet launch, which will be organized by the dYdX Decentralized Autonomous Organization (dYdXDAO) SubDAO on Operations.

– The new dYdX chain aims to decentralize the exchange’s order book and make it truly decentralized.

– Currently, dYdX runs on StarkEx, a layer-2 of Ethereum.

– The new code will allow the dYdX infrastructure to be run globally by DeFi enthusiasts.

– The dYdX development team will not run any part of the infrastructure behind the new dYdX Chain once the mainnet launch is complete.

– The launch date for the mainnet has not been announced yet.

– The proposed mainnet launch will have an alpha phase for staking rewards and a beta phase for trading and further testing.

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