Decentralized crypto derivatives exchange dYdX has taken a key step towards launching its decentralized v4 by open-sourcing its code.

DYdX first revealed its intentions to transition from being an Ethereum layer-2 to becoming an appchain using the Cosmos SDK in June last year.

By open-sourcing its code, the dYdX team is hoping to receive community feedback and come to a consensus between its third-party validators and node operators before launching the dYdX mainnet.

According to information on DeFiLlama, dYdX currently has a total value locked (TVL) of $364 million, and the protocol’s token commands a market cap of $404.35 million. It has a fully diluted valuation of $2.27 billion…

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