The dYdX v4 Public Testnet

dYdX is a non-custodial decentralized exchange that uses Ethereum smart contracts to trade. This allows traders to trade on margin while simultaneously benefiting from Ethereum’s security. According to dYdX, they support bold technological advancements that could significantly enhance the protocol. It was determined that Cosmos would enable them to create the finest completely decentralized system after examining the environment of existing and emerging blockchain technologies.

In pursuit of creating a network of compatible blockchains, the Cosmos ecosystem places great emphasis on governance mechanisms. These mechanisms are instrumental in achieving the vision of a seamlessly interconnected system of blockchains, supported by interchain infrastructure and services not only within the Cosmos Hub but also extending beyond it.

With this in mind, dYdX’s vision aligns with the Cosmos ecosystem, leveraging the complex governance module in order to empower their traders and daily users to be involved at a broader level in the development of the trading platform both from a business and technical perspective as well.

In order to fulfill the rollout of the dYdX v4 blockchain, the exchange’s standalone chain, the process was split into 5 milestones, allowing early-and-often testing, bottleneck and bug fixes and overall a more enhanced development process. Starting with the Developer Testnet, v4’s progress has spanned the better part of the past year, with the 4th milestone, the release of the public testnet, being announced on July 7th!

The Bware Labs Dedicated dYdX Snapshot Service

As part of our commitment to impacting our collaborating ecosystems with the best infra tools and services, the dedicated dYdX Snapshot Service is live on the Bware Labs website!

In conventional usage, the term “snapshot” pertains to capturing the state of a computer system or storage device at a precise moment. In the context of cryptocurrencies, a “snapshot” commonly denotes the process of documenting the state of a blockchain at a specific block height. Here, the snapshot contains a comprehensive record of the entire blockchain ledger, encompassing all current addresses along with their related data such as transactions, fees, balances, metadata, and other relevant information.

Our Snapshot Services might be what you’re searching for if you need to restart your node, make a migration easier, or kickstart your validator! You simply go to our snapshot service page, select the “dYdX Snapshots” section, and you can download the latest available snapshot! In order to use it, simply decompress the archive as per the following instructions and start your node. You should be in-sync with the network within minutes from starting the node!

The Bware Labs dYdX Validator

Bware Labs’ involvement in the dYdX ecosystem began with Milestone 3, the v4 Private Testnet During this phase, the exchange collaborated with a number of external validators (Bware Labs included) on a number of infrastructure operations, such as preparing and starting the network, testing the core trading flows, and performing upgrades.

Milestone 4 represents the completion of all steps necessary for dYdX’s Public Testnet launch, including the enlargement of the validators pool to over 40. Although released on Bitcoin and Ethereum, it is anticipated that the open-source software will cover over 30 networks!

Bware Labs will provide its all in terms of offering infrastructure tools and services as participants in both the Private and (now) Public Testnet. Our continual addition of new projects to our portfolio on the validator services side, raising the total number of projects to more than 30, and attaining a TVL of more than $300 million, highlight our firm belief that decentralization demands collaboration.