dYdX Chain enters Beta Mainnet stage, launches lively buying and selling throughout 33 markets

• dYdX Chain Beta Mainnet launch allows lively buying and selling throughout 33 markets.
• Customers can commerce on dydx.commerce with 20x leverage.
• There’ll nonetheless be no rewards through the beta stage.

In a big growth for the decentralized derivatives buying and selling house, the dYdX Chain has formally entered its beta mainnet stage.

This transfer follows a decisive governance vote, with over 99% neighborhood assist, permitting lively buying and selling throughout greater than 33 markets.

Beta Mainnet launch and buying and selling options

The transition from the alpha stage to the beta mainnet stage occurred at 8:45 a.m. EST on a Monday, as confirmed by the dYdX Operations subDAO, chargeable for the decentralized infrastructure of the dYdX Chain.

Customers can now actively take part in buying and selling through the dydx.commerce platform, with entry to over 33 perpetual markets providing as much as 20x leverage.

Throughout this beta stage, no buying and selling rewards shall be distributed to customers. Nonetheless, validators and stakers will accrue buying and selling charges. This section serves as a essential testing interval for the lively buying and selling atmosphere on the dYdX Chain.

Evolution from Ethereum Layer 2 scaling to Cosmos-based blockchain

The dYdX Chain’s journey thus far concerned a notable shift from its reliance on Ethereum Layer 2 scaling answer StarkEx in model 3 to turning into a standalone Layer 1 blockchain on the Cosmos ecosystem with the launch of model 4. The alpha mainnet for dYdX model 4 and the debut of its Cosmos-based blockchain befell on October 26.

The dYdX platform, famend as essentially the most in depth decentralized derivatives buying and selling platform within the crypto house, has seen a cumulative buying and selling quantity exceeding $1 trillion since 2020. The profitable governance vote and subsequent beta mainnet launch mark a vital step in dYdX’s ongoing dedication to offering a sturdy and environment friendly decentralized buying and selling expertise.

This information underscores the platform’s concentrate on community-driven decision-making and its dedication to refining the dYdX Chain via meticulous testing earlier than progressing to full buying and selling with rewards.