dYdX developers launch new testnet as they move toward full decentralisation

On July 5, the decentralized exchange dYdX launched a public testnet based on Cosmos and the Tendermint consensus protocol.

The developers said that the public testnet launch would entail increasing validators to 40 and more.

At the time of writing, BTC and ETH could be traded on the test network. More assets are expected to be added in future updates.

The non-custodial exchange uses StarkWare’s layer-2 solution StarkEx to scale Ethereum.

Launch of dYdX’s mainnet on Cosmos is planned for the end of this year. It is expected that after this the centralized order book and matching engine will disappear from the exchange. The platform, however, will not use the AMM mechanism.

“This enables dYdX to have extremely high throughput for the order book, while remaining decentralized,” the developers said.

In addition, the trading fee will be calculated in the same way as on centralized exchanges.

In March, on the 28th, dYdX launched the third version of its network.

In April, the decentralized exchange left Canada due to regulatory pressure.