Heads up, validators: Polkadex v5.0.0 is here!
The new binary release is the first step towards the mainnet release of THEA, Orderbook v2, the Parachain connection, and more.
The most important update to the Polkadex binary yet is now available for all Polkadex validators. This release prepares the network for important updates and includes all the code necessary for the chain and the validators to run Polkadex Orderbook v2, THEA, the Polkadex parachain connection, and more. Given the magnitude of this update, it is crucial for current Polkadex validators to carefully read this announcement and follow the instructions below.
Containing the parachain binary, the THEA binary, and the code necessary to run Polkadex Orderbook v2, the latest Polkadex binary release is considerable in size and scope. To avoid any potential issues once they are running v5.0.0, existing validators should ensure their nodes meet the required hardware specifications before updating.
Validators are encouraged to update to v5.0.0 at their earliest convenience. The whole network is expected to have updated to v5.0.0 well before the planned runtime upgrade date of June 19th.
This update should not be taken lightly. In view of all the significant features and updates included in this release, it is important for validators to remain vigilant after updating to v5.0.0 and throughout the runtime upgrade execution period. Validators should expect a bumpy road in the aftermath of the runtime upgrade. Therefore, it is highly recommended to be proactive, especially during this period.
Step by step v5.0.0 update guide for validators
Similar to previous updates, building a node from scratch is not necessary for this release. Most validators will only need to download the new binary and replace it, which will only results in a few minutes of node downtime as you follow the steps below:
What about validators who use OnFinality?
If you’re currently running a node with OnFinality, upgrading to the latest build could not be easier. Once v5.0.0 is available on OnFinality, all you have to do is simply select ‘Actions’ in your OnFinality dashboard, then select ‘Change Image’ and select v5.0.0.
What’s coming to Polkadex after the v5.0.0 runtime upgrade?
This release paves the way for an exciting set of updates coming to Polkadex including Polkadex Orderbook v2, THEA, the connection with the Polkadex parachain, and more. Polkadex Orderbook v2 further decentralizes the architecture of Orderbook by shifting key functions like trade settlement, balance snapshots, and recovery from the centralized operator to the distributed set of 200 Polkadex validators.
Meanwhile, connecting the Polkadex parachain to the Polkadex network will allow for tokens from across the Polkadot ecosystem to be traded on Polkadex Orderbook, pending XCM channel openings between the respective parachains. We’re already hard at work on opening channels in order to have as many trading pairs as possible on launch day.
Lastly, THEA is the interoperability layer for the entire Polkadex network. It functions as the one-stop-shop to bring assets from other blockchains in and out of Polkadex. THEA relies on Polkadex validators to bridge assets securely from other networks and will add support for Ethereum tokens later this year.
Strap in and get ready for a wild ride. The next few months at Polkadex look to be filled with plenty of activity, updates, and, most importantly, trades!
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