Cryptocurrency exchange dYdX has unveiled the open source code for its fresh Cosmos-based network.
This encompasses the protocol, order book, and user interface, all designed to facilitate the exchange's forthcoming main network launch, organized by dYdX Decentralized Autonomous Organization.
At present, the platform handles daily cryptocurrency trades exceeding $US2.6 billion. However, it has faced criticism for the centralized nature of its order book, which oversees trade among users.
By developing a new dYdX chain based on Cosmos, the team disclosed its goal to decentralize the exchange's order book, achieving true autonomy. This would effectively transfer control of the protocol from the dYdX development team.
Upon the main network launch, the dYdX team will relinquish all control over the infrastructure supporting deployments on the new chain.
The official date for the main network launch is yet to be announced.