dYdX Set To Launch Public Testnet Of Its Cosmos-Based Blockchain

Crypto Daily
Crypto Daily

29 Jun 2023 6:45 AM

Decentralized exchange dYdX has announced plans to launch the public testnet of its Cosmos-based blockchain on the 5th of July, 2023....

  • Decentralized exchange dYdX plans to launch the public testnet of its Cosmos-based blockchain on July 5th, 2023.
  • The initial testnet will only support Bitcoin and Ethereum markets, but future upgrades will introduce over 30+ markets.
  • The launch aims to democratize access to financial opportunities.
  • The dYdX chain completed Milestone 4 and has over 40 validators running the platform's software.
  • Testing will include functions such as viewing the order book, connecting wallets, and viewing account information.
  • The mainnet launch is expected after completing Milestone 5 in September.
  • dYdX transitioned from StarkEx to its own application-based blockchain in the Cosmos ecosystem.
  • The testnet launch is ahead of schedule, with Milestone 4 completed earlier than anticipated.
  • Users are encouraged to provide feedback and suggestions after using the testnet.
  • The DYDX token price saw a minor increase, but the overall outlook remains bearish.
  • The ATOM token in the Cosmos ecosystem experienced a 15% increase in trading volume.

The overall sentiment of the article is positive, as it highlights the progress and achievements of dYdX in launching its public testnet and its mission to democratize access to financial opportunities. However, it also mentions the bearish outlook for the DYDX token.

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You May Ask

When is dYdX planning to launch the public testnet of its Cosmos-based blockchain?Which cryptocurrencies will be initially supported on the testnet?How many validators are currently running the dYdX platform's software?What features were added in Milestone 3 of the testnet?What is the overall sentiment towards the DYDX token and the ATOM token in the Cosmos ecosystem?

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