This shift denotes a substantial evolution for the project, moving it to a standalone Cosmos-based blockchain after previously relying on Ethereum Layer 2 scaling solution StarkEx.
dYdX Chain has marked a major milestone by officially launching its mainnet as an independent Cosmos Layer 1 blockchain. This launch, which occurred with the creation of the genesis block by validators on October 26 at 1 p.m. EST, represents a monumental step forward for the leading decentralized derivatives trading platform.
The mainnet activation signals the transition to dYdX version 4 and its new community-governed blockchain, which is a substantial evolution for the project, moving it to a standalone Cosmos-based blockchain after previously relying on Ethereum Layer 2 scaling solution StarkEx. The launch of the dYdX Chain alpha mainnet is the initial phase in its transition to full decentralization and independence. Operating on its own tailored blockchain unlocks new opportunities and capabilities for the platform and its users.
Charles d’Haussy, CEO of the dYdX Foundation, commented about the launch and stated:
“After years of development and five 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 genesis of the dYdX chain establishes it as a unique entity within the expanding Cosmos ecosystem. This represents a new era defined by complete decentralization, as dYdX now operates on its own sovereign blockchain optimized for its specific requirements.
Stress Testing and Network Security
A key objective of the alpha mainnet launch is rigorous stress testing of the network. This involves onboarding over 60 validators to ensure security and identify any potential issues before proceeding to the beta launch. This testing phase will be critical for stability as the network scales. Following the alpha mainnet, plans are in place for a community governance vote to approve the beta launch of dYdX Chain. This subsequent phase will enable trading capabilities on the new blockchain.
Cosmostation, an intelligent crypto infrastructure, also agreed to this in his tweet, where he said post-genesis contains two key stages: Alpha and Beta. The Alpha phase is critical for establishing network security through staking. As tokens are migrated and staked, the beta stage will indicate the network is ready for full trading activity.
dYdX emerged as a leading decentralized trading platform within crypto, building on its Ethereum Layer 2 foundation. Since 2020, it has facilitated over $1 trillion in cumulative trading volume, underscoring its position. The launch of dYdX Chain shows that it is still committed to pushing the boundaries of decentralization and maturity as a project. Being an independent cosmos-based blockchain, it will have new possibilities for growth and innovation.