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- The Foundation has revealed that the testnet will be launched on July 5.
- In March, the team anticipated that the public testnet would be operational by the end of July.
As part of its strategy to exit the Ethereum ecosystem by the conclusion of 2023, the DYDX Foundation, the non-profit organization behind the well-known DEX, dYdX, has advanced the launch of the public testnet for its Cosmos-based blockchain.
The Foundation has disclosed that the testnet will commence on July 5, ahead of the previously scheduled date. In March, the team projected that after reaching the third milestone (private testnet), the public testnet would be operational by the end of July.
The upcoming launch represents the fourth of five planned phases for dYdX to evaluate its Cosmos-based blockchain prior to the mainnet going live. Various improvements to the network were made during the private testnet, such as the introduction of limit orders, dynamic funding rates, ABCI 2.0, and additional features of the Cosmos-SDK.
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Enhanced functionalities, including order books, account balances, order histories, and market data, will be accessible for testing and exploration on the public testnet. Numerous validators will be distributed across the network, all operating the network software.
Although the upcoming testnet will initially support only Bitcoin and Ethereum markets at launch, the team aims to eventually expand the network to encompass at least 30 additional markets. In September, assuming the DEX has completed its testnet migration from Ethereum to Cosmos, it will proceed to the final milestone (v5) before the ultimate launch of the mainnet.
dYdX has indicated that the primary reason for its departure from Ethereum is the platform’s scalability limitations. After exploring various layer2 alternatives, the team determined that Ethereum’s transaction processing speed was insufficient.
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