Developers integrate the Axelar cross-chain bridge into dYdX v4

The dYdX decentralized exchange team added support for the Axelar cross-chain bridge to deploy app-chains in the ecosystem Cosmos.

1/ One-click to the dYdX Chain ?

We’re excited to announce that the dYdX Chain will integrate with @squidrouter x @axelarcore.

Users can now integrate with dYdX Chain from Ethereum, app-chains, or supported L2s w/o the hassle of bridging ?https://t.co/65iE8kqWYk

— dYdX (@dYdX) September 20, 2023

The initiative was implemented as part of the extended transition to the fourth version of the protocol, which envisages such functionality.

The goal is to support onboarding/offboarding in dYdX v4 in a single click.

The integration is implemented using the Axelar-based Squid solution.

“A necessary condition for the success of the app-chain-based approach is high flexibility, speed and ease of functional compatibility. The dYdX blockchain must attract users from L2, Ethereum, other app-chains and centralized exchanges, to serve as many users,” — the statement says.

Developers expect to complete preparations for the v4 code release by October.

The official launch of the dYdX mainnet is planned for the end of 2023.

It is expected that after this the centralized order book and the matching engine will disappear on the exchange. At the same time, the platform will not use AMM algorithms.

In August, dYdX unlocked 6.52 million DYDX tokens worth $13.82 million.

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