Crypto Ecosystems • June 28, 2023, 4:10PM EDT
UPDATED: June 28, 2023, 4:15PM EDT

DYDX to launch public testnet of Cosmos-based blockchain on July 5

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The Block

Quick Take

  • Decentralized exchange DYDX plans to launch the public testnet of its own Cosmos-based blockchain ahead of schedule on July 5 at 1:00 p.m. ET. 

Decentralized exchange DYDX said Wednesday that it would launch the public testnet of its Cosmos-based blockchain next week. 

The DYDX Chain, built in the Cosmos ecosystem, completed its Milestone 4 and contains over 40 validators running the platform's software. The testnet is set to launch ahead of schedule at 1:00 p.m. ET (17:00 UTC) on July 5, the platform said on Twitter.

Some of the functions to be tested at launch include connecting wallets, viewing the order book, placing market orders and viewing account information. At launch, the public testnet will only work with Bitcoin and Ethereum markets, but DYDX plans to include over 30 more markets through future network upgrades. 

DYDX launched the private testnet in March to work with a small number of external validators to test functionality, DYDX wrote in a blog post. It's aiming to launch its mainnet, which completes Milestone 5, in September.

In 2022, DYDX brought in $466.3 billion in cumulative transaction volume, a 140% increase from the year prior, The Block previously reported. 


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