The dYdX Chain has officially entered the beta mainnet stage, with a decisive governance vote of over 99% in favor allowing active trading across 33 markets. Through the dydx.trade platform, users can now participate in trading with up to 20x leverage.
The transition from the alpha stage to the beta mainnet stage marks a crucial step in the evolution of the decentralized derivatives trading space. The dYdX platform has seen a cumulative trading volume exceeding $1 trillion since 2020, and this news underscores the platform’s commitment to providing a robust and efficient decentralized trading experience.
The dYdX Chain’s journey to this point has involved a shift from relying on Ethereum Layer 2 scaling solution StarkEx in version 3, to becoming a standalone Layer 1 blockchain on the Cosmos ecosystem with the launch of version 4. The alpha mainnet for dYdX version 4 and the debut of its Cosmos-based blockchain took place on October 26.
During this beta stage, no trading rewards will be distributed to users. However, validators and stakers will accrue trading fees, as this phase serves as a critical testing period for the active trading environment on the dYdX Chain. The successful governance vote and subsequent beta mainnet launch are a testament to dYdX’s dedication to refining the platform before progressing to full trading with rewards.