The time is finally here! Today, we’re proud to present and open source the completed dYdX Chain! The code, including the protocol, orderbook, front end and more (“dYdX Chain”) have been completed, audited, and now open sourced for anyone to use.
Why the dYdX Chain?
At dYdX, we’ve continuously valued radical change in order to create the best possible experience for users. This was apparent in our move to L2s before they were widely popular and with our decision to create the dYdX Chain as a standalone app-chain.
Creating a stand alone app-chain allows us to execute on one of our core beliefs, full decentralization, while increasing the speed and ease of use our traders demand to execute their strategies. The new dYdX Chain could offer transactions of up to 2,000 transactions per second which is unprecedented within the world of DeFi.
Furthermore, with dYdX Chain, all parts of the protocol are now fully decentralized, including the order book. By building our own app-chain, we unlocked full customizability over the entire tech stack, including how the chain works and the roles that third-party validators could play. dYdX Trading will not run any part of the infrastructure behind any deployment of the new dYdX Chain.
Check out our original announcement to learn more about why we decided on a standalone app-chain and how the technology works.
What happens next
Now that the software is released, we are excited to watch the next steps unfold. We look forward to seeing the dYdX Chain infrastructure run globally by DeFi enthusiasts.
Check out the blog post from the dYdX Operations SubDAO to learn more about their plans for the dYdX Chain.
dYdX Trading plans to keep building and sharing our code via open source. We’ll look for ways to participate in the dYdX community and will share more details about new potential product features over the coming months.
Thank you to our community, our team, our investors, and everyone who advised and audited our code along the way. We can’t wait to see what this next chapter of dYdX brings!
A Word From Antonio
Today's release of the dYdX Chain is a huge moment for both dYdX and DeFi. With $1 Billion of crypto derivatives traded per day, dYdX has become a leader in DeFi. The dYdX Chain software release marks the full decentralization of dYdX, and is a big step on our mission to democratize access to financial opportunity. With the dYdX Chain, dYdX brings transparency and security to derivatives trading with an exchange that is run solely by code, and controlled by its users.
About dYdX and Terms
Here at dYdX, our mission is to democratize access to financial opportunity. We believe that v4 software will represent notable progress in service of that mission. The events in the global economy that have transpired over the last year have only reinforced the need for open, transparent, and permissionless financial products. We’re excited for v4 software to better meet those needs.