dYdX, a leading decentralized exchange (DEX), has reached an important milestone in the development of its V4 blockchain. The company has completed the third of five planned milestones, marking significant progress towards the launch of its new platform. In this article, we will provide an update on the latest developments and what users can expect from dYdX in the coming months.
Private Testnet to Begin Soon
dYdX is set to begin a private testnet on March 28, 2023, which is expected to last for 2-3 weeks. The testnet will involve a limited number of external validators who will work with dYdX to test various aspects of the network. This will include testing out some of the core exchange features such as trading, as well as performing infra-level operations like setting up validator nodes and starting the chain.
Milestones 2 and 3: Recap
Milestone 2 was focused on completing all of the basic functionality needed to run the core product. The team also created a more stable internal testnet with a larger number of validator nodes, which allowed for robust testing by their developers. Milestone 3, on the other hand, involved the completion of advanced features such as advanced order types, dynamic funding rates, using ABCI 2.0, and other latest features of Cosmos-SDK, web trading interface, and documentation for validators.
Milestones 4 and 5: What to Expect
Milestones 4 and 5 will be focused on non-core-product features, including the process of adding or removing new trading pairs and IBC connections to other chains. Milestone 4 will include the launch of a fully-public testnet and an expanded number of validators testing out the product. This is projected to be completed by the end of July 2023. The completion of Milestone 5 will include the launch of mainnet, which is anticipated to be available by the end of September 2023.
Plans to Open Source
dYdX also provided some initial information about their plans to open source. The company will release a full node, which will participate in consensus but not vote, as well as validators, which will run full nodes to which users submit transactions. The minimum recommended specs for running a node include 8-core, x86_64 architecture processor, 32 GB RAM, and 1 TB of storage space. Additionally, dYdX will build three front-ends that will be open-sourced: an iOS app, an Android app, and a website.
Conclusion
dYdX is making impressive progress in the development of its V4 blockchain, with the completion of the third milestone and the upcoming private testnet. With Milestones 4 and 5 on the horizon, users can expect to see new trading pairs and IBC connections to other chains. Additionally, dYdX’s plans to open source will provide greater transparency and accessibility to its platform. Overall, dYdX is set to become a major player in the world of decentralized exchanges.
