DYdX Chain Is Now Live On Mainnet As A Standalone Cosmos Layer 1

TL;DR

• The DYdX Chain and its standalone Cosmos blockchain have rolled out its alpha mainnet phase.

• This marks the first phase in transitioning to dYdX version 4.

DYdX Chain Launches On Mainnet

The "alpha mainnet" for dYdX version 4, along with the debut of its standalone Cosmos-based blockchain, went live on Thursday, October 26th.

This latest development is a huge milestone for the dYdX ecosystem as it indicates a notable transition for the platform. 

The activation of the alpha mainnet is the first phase of its transition to dYdX version 4 and its new, community-governed Layer 1 blockchain. It comes following several testnets carried out over the past few months. 

While speaking to The Block, Charles d’Haussy, CEO of the dYdX Foundation, said

"After years of development, 5 testnets involving 60+ validators and top-tier trading firms, the dYdX Chain has been officially launched by the community and DAO. This marks a monumental leap forward for the dYdX Ecosystem representing a new chapter that’s defined by full decentralization."

The dYdX alpha mainnet is built on the Cosmos SDK and comes with an independent blockchain designed to cater to the project’s requirements. It comes following the public release of the open-source code for the dYdX blockchain.

The mainnet is set to stress-test the network. The team is currently working on onboarding over 60 validators to boost network security. The beta launch will come be launched following approval from a community governance vote. If approved, the beta launch will come with trading features on the network. 

dYdX is one of the leading decentralized derivatives trading platforms in crypto and has processed over $1 trillion in trading volume in the last three years.