DYdX Chain Introduces Beta Trading and is Now Available for Trading

The dYdX Chain trading platform achieved a significant milestone by officially entering its beta stage, allowing active trading to be available for the first time following a decisive governance vote. This move follows the alpha phase and has been warmly welcomed by the community.

The decentralized exchange that managed to break with Coinbase’s dominance, marking a crucial point in favor of decentralized finance, presented very interesting updates for its users in the last few hours.

The beta launch took place on Monday morning, according to the dYdX Operations subDAO, a leader in decentralized infrastructure for dYdX Chain.

This step occurred after a community vote that garnered overwhelming support, with over 99% approval, to change trading on all markets from post-only to active.

What Does the dYdX Beta Bring?

With the entry into the beta stage, users can now engage in trading across more than 33 perpetual markets through the dydx.trade platform, offering leverage of up to 20x.

During this phase, the dYdX Chain will not distribute trading rewards, but validators and stakers will accumulate trading fees, a mechanism designed to rigorously test the capabilities of the dYdX Chain in active trading environments.

The beta phase holds crucial significance in verifying the stability of the protocol and ensuring the correction of potential errors before advancing towards full trading, including the distribution of rewards.

Another governance vote will determine this step, highlighting the importance of closely monitoring the performance of the dYdX Chain before engaging in significant operations.

It is worth noting that this progress comes after the successful launch of the alpha mainnet for version 4 of dYdX, marking the transition of the leading decentralized derivatives platform to become an independent Layer 1 in the Cosmos ecosystem.

The community is eagerly awaiting the results of this beta phase as it represents an essential step towards the maturity and full functionality of the chain.

The company emphasized its strong commitment to ensuring transparency and operability. They will publish daily updates, information, and statistics on validation metrics, trading information, and other relevant data.