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The standalone Cosmos-based Layer 1 dYdX chain has entered its beta mainnet stage, enabling active trading to go live. Users can now engage in trading across more than 33 perpetual markets, offering up to 20x leverage.
No trading rewards will be distributed during this stage, but validators and stakers will accrue trading fees. Once the dYdX chain is stable with minimal bugs or issues, progression from active to full trading, including rewards, will be determined by another governance vote.
dYdX is also partnering with Circle and Noble chain to utilize Circle's Cross chain transfer protocol (CCTP). This will enable Noble users to send their USDC, the collateral contemplated by dYdX chain, from other chains directly to dYdX chain in an easy, simple and secure manner.
CCTP allows users send USDC to supported blockchains through a native burn and mint process without the need for custodial bridging. Circle's CCTP was available on Noble's testnet on Nov.3 and will launch on the network's mainnet on Nov. 28.
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