Introduction
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.
Legitimacy and Disclaimer
Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets.
dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as in other restricted jurisdictions. The dYdX Foundation does not operate or participate in the operation of any component of the dYdX Chain’s infrastructure.
The dYdX Foundation’s purpose is to support the current implementation and any future implementations of the dYdX protocol and to foster community-driven growth in the dYdX ecosystem.
The dYdX Chain software is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain and/or its software or related components be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever. The dYdX Foundation does not make any representations, warranties or covenants in connection with the dYdX Chain software (or any implementations and/or components thereof), including (without limitation) with regard to their technical properties or performance, as well as their actual or potential usefulness or suitability for any particular purpose, and users agree to rely on the dYdX Chain software (or any implementations and/or components thereof) “AS IS, WHERE IS”.
Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. Users should conduct their own research and due diligence before making any decisions. The dYdX Foundation may alter or update any information in this post in the future at its sole discretion and assumes no obligation to publicly disclose any such change. This post is solely based on the information available to the dYdX Foundation at the time it was published and should only be read and taken into consideration at the time it was published and on the basis of the circumstances that surrounded it. The dYdX Foundation makes no guarantees of future performance and is under no obligation to undertake any of the activities contemplated herein.
