• DYDX Foundation has announced a new launch date for the public testnet of its Cosmos-based blockchain as it prepares to exit the Ethereum ecosystem later this year.
• The testnet is set to go live next week on July 5, which is earlier than the previous schedule.
• During the private testnet, the team made several improvements to the network including enabling documentation for market makers and validators, limit orders, dynamic funding rates, and ABCI 2.0 and other features of Cosmos-SDK.
DYDX Announces New Date for Its Cosmos-Based Public Testnet
The DYDX Foundation, a non-profit organization behind the popular decentralized exchange (DEX) DYDX, has announced a new launch date for its public testnet of its Cosmos-based blockchain. The release date is now scheduled for July 5th which is weeks earlier than previously announced.
Private Testnet Improvements
Before reaching this fourth stage in their five milestones to full release of their main network, DYDX completed their third milestone — private testnet–during which they enabled documentation for market makers and validators as well as making improvements such as limit orders, dynamic funding rates and ABCI 2.0 features from Cosmos SDK.
Features Of Public Testnet
The upcoming public testnet will allow users to access order books, account balances, order history and market data; it will also include many validators running the network’s software with initial support of Bitcoin and Ethereum markets but plans to expand to at least 30 other markets in future releases.
Benefits To Test Network
The benefits of testing this public test net are that users can explore more features including accessing order books, account balances , order history ,and market data . This allows them to become more accustomed with using decentralized exchanges (DEEX). Additionally by expanding it beyond just BTC/ETH pairings there will be greater liquidity on DEEXs like DYox which will benefit traders using these exchanges.
Future Roadmap For DYOx
As part of their roadmap following this fourth milestone set out by Dyox foundation there are still one more step before full release of main net which includes porting existing trading infrastructure and launching native coins on their platform . Allowing users greater access into different financial instruments such as derivatives ,margin trading etc . Achieving all these objectives would mark an important milestone in DeFi space moving away from current standard ERC20 tokens