Ethereum

Foundation

The <a href="https://twitter.com/dydxfoundation" target="_blank" rel="noopener noreferrer nofollow">dYdX Foundation</a> announced&nbsp;the open-sourcing&nbsp;of software for a <a href="https://www.dydx.foundation/blog/open-source-bridge-user-interface" target="_blank" rel="noopener noreferrer nofollow">Bridge User Interface</a>. If implemented, this interface might let users convert from ethDYDX to DYDX, which is the layer 1 (L1) token of the dYdX Chain.
The dYdX Ecosystem has lately seen three noteworthy advances:
<ul>
 <li>October 24, 2023-The&nbsp;launch of the dYdX Chain open-source software was <a href="https://dydx.exchange/blog/dydx-chain-official-release" rel="noopener noreferrer nofollow">a</a><a href="https://dydx.exchange/blog/dydx-chain-official-release" target="_blank" rel="noopener noreferrer nofollow">n</a><a href="https://dydx.exchange/blog/dydx-chain-official-release" rel="noopener noreferrer nofollow">nounced</a> by dYdX Trading Inc.</li>
 <li>October 26 2023 – The dYdX Operations subDAO <a href="https://dydxopsdao.com/blog/dydx-chain-launch" target="_blank" rel="noopener noreferrer nofollow">revealed</a> that Genesis Validators took part in the development of the first block of the dYdX Chain, marking the mainnet genesis of the dYdX Chain.</li>
 <li>October 30 2023 – The deployment and public release of the Bridge User Interface was <a href="https://twitter.com/dydx_ops_subdao/status/1719043132614942910" target="_blank" rel="noopener noreferrer nofollow">announced</a> by the dYdX Operations subDAO.</li>
</ul>
The dYdX Operations subDAO announced that a Bridge User Interface has been deployed and made accessible to the public, subsequent to the dYdX Chain’s mainnet genesis&nbsp;and the software’s open sourcing. With this advancement, users may now link their DYDX tokens from <a href="https://thenewscrypto.com/ethereum-price-enters-consolidation-phase-as-investors-await-cpi-data/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> to the dYdX Chain, increasing the token’s potential uses. One&nbsp;may&nbsp;utilize&nbsp;the bridging tutorial provided <a href="https://dydx.foundation/how-to-bridge/overview" target="_blank" rel="noopener noreferrer nofollow">here</a> or go to <a href="http://bridge.dydx.trade" target="_blank" rel="noopener noreferrer nofollow">bridge.dydx.trade</a> to convert ethDYDX into dYdX Chain DYDX. The next few days should see the publication of a staking guide.
Pre-Genesis, Genesis, and Post-Genesis are the three stages of dYdX Chain Genesis that were&nbsp;emphasized&nbsp;in a recent <a href="https://www.dydxopsdao.com/blog/v4-genesis" rel="noopener noreferrer nofollow">article</a>&nbsp;by the dYdX Operations subDAO. There are two phases in the Post-Genesis phase of the dYdX Chain: Alpha and Beta.
The network’s security and stability are given top priority throughout the Alpha stage, according to a mention. A key component in attaining this stability is the quantity of DYDX tokens that are staked to dYdX Chain Validators. Staking DYDX adds to the security of the dYdX Chain. It becomes harder for concerted assaults to sway a consensus decision when more DYDX holders decide to stake their tokens across a variety of Validators in the network and as the overall quantity of stake on the network rises.
A successful dYdX Chain governance vote and performance metrics are two of the most important requirements for moving from the Alpha to Beta stage. Limited trading capability is anticipated to be made available during the beta stage, opening the door for the dYdX Chain’s full production iteration.
The dYdX Operations subDAO will decide on public accessibility during the Beta stage, operating a protocol front-end and contracting the function of an indexer. Further information is available on the dYdX Operations subDAO blog,&nbsp;<a href="https://www.dydxopsdao.com/blog/v4-genesis" target="_blank" rel="noopener noreferrer nofollow">here</a>.&nbsp;
See this <a href="https://www.dydx.foundation/blog/open-source-bridge-user-interface" target="_blank" rel="noopener noreferrer nofollow">article</a> for more information on the open-sourced&nbsp;bridge User Interface program&nbsp;developed by the dYdX Foundation.

dYdX Chain Unveils New Bridge UI Along with Staking Feature

TheNewsCrypto

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