dYdX announces progress on dYdX Chain: internal testnet launched, covering core features such as leverage, fees, and liquidation

2022-11-22 22:34:03

Collection

ChainCatcher news, the decentralized derivatives protocol dYdX announced the completion of the second milestone of dYdX V4 (dYdX Chain), which is the internal testnet. Currently, dYdX V4 has two permanently running internal blockchain networks, one for developer testing and the other as a general testing network. Functionally, it allows core trading features, including leverage, fees, oracle price updates, hourly funding rates, and liquidation.

Previously, ChainCatcher reported in June this year that dYdX plans to launch its own Layer 1 blockchain using the Cosmos SDK in the coming months to provide a competitively long-term product experience. This blockchain will be controlled by a group of distributed validators rather than solely by the founding team, which helps to make the project more decentralized. (Source link)

Related tags

dYdX derivatives protocol Cosmos

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.