The introduction of the dYdX v4 software (“dYdX Chain”) is our commitment to complete decentralization. We will open source all parts of the code, including the front end, and third parties can deploy the software and operate the infrastructure.
Once a dYdX Chain is live and front ends have been deployed, it’s incredibly important for traders to be vigilant of the interface they plan on using. Since anyone can deploy the front end, it can become a point of attack for bad actors to gain access to trader wallets and funds. Just like many things in crypto, it’s important to only connect wallets to trusted interfaces and because dYdX Trading Inc. will not host any front ends using v4 software, distinguishing trustworthy front ends from non-trust worthy front ends may take a bit more effort.
How to Stay Safe
While dYdX Trading Inc. has no control over who deploys any front ends using v4 software, there are a few ways you can increase your safety. We encourage traders to research which validators they stake with or trust and see which front ends such validators are using. We also plan to share any front ends that we believe to be trustworthy on our social media and blog platforms as well as list such front ends on our help center here.
Another way to ensure safety–if you’ve got the technical chops–is to deploy your own front end. Find all of our v4 software code here to get started.
We understand that this may add a layer of complexity to your trading experience, but in time we believe many trustworthy front ends will be deployed. This level of decentralization is important to create the best possible user experience and reach our mission of democratizing access to financial opportunity.
We are looking forward to the release of the dYdX Chain software soon! And, as always in crypto, stay safe and DYOR!
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.