**dYdX Chain Launches Beta Mainnet, Opening Trading Across 33 Markets**
The dYdX Chain has reached a significant milestone as it enters the beta mainnet stage, enabling active trading across 33 markets. This decision follows a resounding governance vote with over 99% support from the community.
**Beta Mainnet Launch and Trading Features**
The transition to the beta mainnet stage allows users to engage in trading through the dydx.trade platform, offering access to more than 33 perpetual markets with leverage of up to 20x. However, there will be no trading rewards during this beta stage, serving as a crucial testing period for the trading environment on the dYdX Chain.
**Evolution from Ethereum Layer 2 Scaling to Cosmos-based Blockchain**
The dYdX Chain’s journey involved a significant shift from 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 platform, known for its extensive decentralized derivatives trading, has seen a trading volume exceeding $1 trillion since 2020.
This move underscores the dYdX Chain’s commitment to providing a robust decentralized trading experience and its focus on community-driven decision-making.
**What is dYdX Chain?**
dYdX Chain is a decentralized derivatives trading platform that allows users to trade perpetual contracts with up to 20x leverage.
**What are the key features of the beta mainnet stage for dYdX Chain?**
The beta mainnet stage enables active trading across 33 markets through the dydx.trade platform. Users have access to perpetual markets with leverage of up to 20x, although there are no trading rewards during this phase.
**Why did dYdX Chain transition to a Cosmos-based blockchain?**
The transition to a Cosmos-based blockchain marks a significant shift from the platform’s reliance on Ethereum Layer 2 scaling solution StarkEx. This move enhances the overall infrastructure and performance of the dYdX Chain.
**How has the community contributed to the development of dYdX Chain?**
The community showed overwhelming support through a decisive governance vote, emphasizing the platform’s commitment to community-driven decision-making and its dedication to refining the dYdX Chain through meticulous testing before full trading with rewards.
**What is the trading volume of dYdX Chain?**
The platform has seen a cumulative trading volume exceeding $1 trillion since 2020, reinforcing its position as a prominent decentralized derivatives trading platform in the crypto space.