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.
The front end, or the website in which you connect to the dYdX Chain, will be open-sourced meaning it can be forked and deployed by anyone in accordance with the v4 Terms of Use. While this is a great step toward decentralization, it requires traders to conduct more diligence before using a deployed dYdX Chain front end.
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!
Legitimacy and Disclaimer
Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets.
dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as in other restricted jurisdictions. The dYdX Foundation does not operate or participate in the operation of any component of the dYdX Chain’s infrastructure.
The dYdX Foundation’s purpose is to support the current implementation and any future implementations of the dYdX protocol and to foster community-driven growth in the dYdX ecosystem.
The dYdX Chain software is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain and/or its software or related components be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever. The dYdX Foundation does not make any representations, warranties or covenants in connection with the dYdX Chain software (or any implementations and/or components thereof), including (without limitation) with regard to their technical properties or performance, as well as their actual or potential usefulness or suitability for any particular purpose, and users agree to rely on the dYdX Chain software (or any implementations and/or components thereof) “AS IS, WHERE IS”.
Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. Users should conduct their own research and due diligence before making any decisions. The dYdX Foundation may alter or update any information in this post in the future at its sole discretion and assumes no obligation to publicly disclose any such change. This post is solely based on the information available to the dYdX Foundation at the time it was published and should only be read and taken into consideration at the time it was published and on the basis of the circumstances that surrounded it. The dYdX Foundation makes no guarantees of future performance and is under no obligation to undertake any of the activities contemplated herein.
