dYdX Chain launches beta testing on 33 markets

On 13 November at 15:45 Kyiv time, the beta launch of the main L1 network dYdX Chain built on Cosmos took place. This was reported in the the blog of the project’s governing organization, the dYdX Operations subDAO.

The shift from passive orders (Post-Only) to active orders received over 99% support from the community.

Users now have access to trading on more than 33 markets of perpetual contracts via the dydx.trade platform, offering leverage up to 20x. At this stage, no trading rewards will be distributed, but validators and stakers will be able to accumulate trading commissions.

Following successful beta testing of the dYdX Chain protocol, the leadership will hold another vote to transition from active to full trading, including rewards.

The dYdX platform, founded in 2020, is a leading decentralised cryptocurrency derivatives exchange with a total trading volume of more than $1 trillion, according to data as of August 2023.

Earlier, on July 5 the project team activated the public testnet based on Cosmos and the Tendermint consensus protocol.

The genesis block of the dYdX Chain mainnet was formed October 26.