dYdX Announces Move From Ethereum to Cosmos

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Last Updated on March 27, 2023 by Bitfinsider

This Tuesday, dYdX declared the launch of its V4 private testnet, a major move that will see the decentralized exchange (DEX) leave Ethereum.

The network will be completely operational on Cosmos by the end of September.

The network enables developer teams to create their own local blockchains based on their tastes by utilizing the Cosmos Software Development Kit (SDK). Despite their differences, each independent Cosmos-based blockchain can communicate with one another.

In addition to decentralized spot trading, dYdX enables users to exchange assets on margin.

The dYdX private testnet will go live on Tuesday and will last two to three weeks. Following that, by the end of July, a public testnet will be introduced.

The platform mentioned Ethereum’s absence of scalability as the primary cause for the change.

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