Bware Labs Joins the dYdX v4 Testnet
Web3 development has always been about trust and involvement. Decentralization in itself works on the premise of trusting a network of performant nodes in order to reach consensus. That’s why we here at Bware Labs have always been committed to helping projects in the Web3 space get to new technological heights, whether from the get-go or in their prime.
We are officially joining dYdX in their private v4 Testnet!
In what is considered a major move, that will eventually result in the DEX leaving Ethereum, dYdX declared the launch of its v4 private testnet last Tuesday.
dYdX is a non-custodial decentralized exchange that uses Ethereum smart contracts to trade. This allows traders to trade on margin while simultaneously benefiting from Ethereum’s security. According to dYdX, they support bold technological advancements that could significantly enhance the protocol. It was determined that Cosmos would enable them to create the finest, completely decentralized system after examining the environment of existing and emerging blockchain technologies.
Full decentralization is the primary prerequisite for the v4 Testnet. A system’s degree of decentralization is determined by the degree of decentralization of its least decentralized component. This implies that each component of v4 must be decentralized while maintaining performance.
As participants in this private testnet, Bware Labs is going to put its best foot forward in terms of providing infra tools and services. We firmly believe that decentralization necessitates collaboration, which is highlighted by how we continued to add new projects to our portfolio on the validator services side, bringing the total number of projects to more than 30 and achieving a TVL of more than $300 million.
And since #BUIDLers will be #BUIDLers, we’re excited about the prospect of developing future tools and services dedicated to the dYdX blockchain. All web3 devs should have access to dependable autonomous infrastructure and fast blockchain development tools in our ideal world. We are therefore committed to building a comprehensive environment that will aid Web3 developers in every step of their blockchain journey.
With the protocol token holders completely in charge of the network, v4 is a fantastic avenue for the dYdX community to continue to grow. The dYdX community will now have complete authority over the stack and be able to create the best possible product experience, whether it be by adding new features like spot trading, options, or multi-collateral or by enhancing fundamental underlying technology.
As with every new beginning, the prospect of joining a new testnet is exciting for us here at Bware Labs. We can’t wait to see what this collaboration holds in store (see what I did there?) for both us and our friends at dYdX. Congratulations once again to the dYdX team on their release!
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