News

dYdX’s Chain to go live on Public Testnet

Published

1 year ago

June 29, 2023

dYdX, a leading decentralized finance (DeFi) platform, is gearing up for an exciting milestone as it announces Milestone 4 — the launch of its Cosmos-based blockchain public testnet set to go live on July 5th, 2023, at 17:00 UTC. This development marks a significant step forward in dYdX’s mission to create an innovative and scalable solution for decentralized trading.

The development process has reached an important milestone with the launch of the dYdX V4 public testnet, which will enable the development team to evaluate the effectiveness of their new version in terms of both the user experience and its level of security.

Users will be able to familiarize themselves with the platform’s features and evaluate its potential as a game-changing addition to the DeFi ecosystem by making use of the testnet as a testing ground for the platform’s features. Users will be able to perform such functions like connecting wallets and generating private keys, request testnet tokens, place orders, view order books, manage orders etc.

The features required for their public testnet launch, which is said to have more validators running the software, are complete. The team is excited to report that Milestone 4 was finished earlier than expected. While the open-source software is expected to eventually include more than 30 markets as the network is upgraded, this public testnet will initially only support markets for Bitcoin and Ethereum.

From July 5th, users can start using the interface, and core flows will be available for testing via Integrations, API and web sockets. With the official launch of the dYdX V4 public testnet, participants will have the opportunity to witness firsthand the network’s capabilities.