dYdX Chain Public Testnet
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The dYdX v4 Chain Public Test Network is set to launch on July 5, 2023, and Milestone 4 marks the completion of features required for the public testnet launch, which will include several larger than the validators that run the software.
Some of the functions in the testnet include connecting wallets, viewing order books, placing market orders, and viewing account information. The following core flows will be available for testing through integrations, APIs, web sockets, and web UI. At launch, the testnet only works with the Bitcoin and Ethereum markets, but it is anticipated that the open-source software will cover around 30+ markets when the network is upgraded.
The launch includes:
- The base dYdX Margin Trading Protocol
- Short & Leveraged Long Tokens
- The 0x exchange wrapper, which allows any 0x order to be used with dYdX
- A shared lending contract that lets multiple lenders participate in a margin loan
- ERC-721 positions and loans
- An opt-in dutch auction contract that can automatically close positions
- The most accurate and efficient compound interest calculator on Ethereum
The protocol smart contracts are some of the most sophisticated to exist on Ethereum to this point. dYdX has built them in a modular way that allows many features to be built on top and easily upgraded without sacrificing decentralization.
the project has also invested heavily in testing and audits to ensure the contracts are as secure as possible. dYdX built an extremely rigorous test suite with 100% test coverage on both lines and branches for all of the more than 10,000 Solidity lines of the smart contracts. Additionally, dYdX contracts are being audited separately by multiple top security firms. Once these audits are complete the project will start rolling out to mainnet.
In the coming months dYdX will be releasing user facing applications that make it simple for users to use dYdX. The team is also hard at work building libraries that will help developers build on top of the protocol. For any questions, please reach out on Slack and stay tuned for some upcoming technical posts that dive into more detail on the protocol.
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The testnet will include a larger number of validators running the software (40+), and will launch with Bitcoin and Ethereum markets but the project anticipates that the open-source software will include approximately 30+ markets as the network gets upgraded.
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