dYdX Launches on Testnet
We’re excited to announce the dYdX Margin Trading Protocol has launched on the Kovan Testnet! Along with the launch, we’re also open sourcing the smart contract code for the protocol.
The launch includes:
- The base dYdX Margin Trading Protocol
- Short & Leveraged Long Tokens
- The 0x exchange wrapper, which allows any 0x order to be used with dYdX
- A shared lending contract that lets multiple lenders participate in a margin loan
- ERC-721 positions and loans
- An opt-in dutch auction contract that can automatically close positions
- The most accurate and efficient compound interest calculator on Ethereum
Our protocol smart contracts are some of the most sophisticated to exist on Ethereum to this point. We have built them in a modular way that allows many features to be built on top and easily upgraded without sacrificing decentralization.
We’ve also invested heavily in testing and audits to ensure the contracts are as secure as possible. We’ve built an extremely rigorous test suite with 100% test coverage on both lines and branches for all of the more than 10,000 Solidity lines of our smart contracts. Additionally, our contracts are being audited separately by multiple top security firms. Once these audits are complete we’ll start rolling out to mainnet.
In the coming months we’ll be releasing user facing applications that make it simple for users to use dYdX. We are also hard at work building libraries that will help developers build on top of the protocol. For any questions, please reach out on our Slack and stay tuned for some upcoming technical posts that dive into more detail on our protocol!
If you’re interested in joining us in building state-of-the-art smart contracts and decentralized applications check out our job postings or reach out to us at email@example.com. We’re rebuilding the core of the world’s biggest financial market and are always looking for talented individuals to join the team!