Ethereum

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Cardano

Chaos

<div class="finbold">
 <p class="paragraph">The dYdX community recently supported a motion to <a rel="noopener noreferrer nofollow" title="advance" href="https://thebittimes.com/tag/advance.html">advance</a> <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> on the dYDX chain (DYDX) from the beta stage to Full Trading.&nbsp;</p>
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 <p class="paragraph">In particular, the latest development was preceded by a lengthy preparatory phase that previously saw <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> <a rel="noopener noreferrer nofollow" title="advance" href="https://thebittimes.com/tag/advance.html">advance</a> from the Alpha to the Beta phase, according to information shared with <em>Finbold </em>by the Operation subDAO on November 28.&nbsp;</p>
 <p class="paragraph">Following the launch of Full Trading, validators and stakers will continue accumulating rewards. During the Beta phase, the platform recorded approximately $1.86 million in <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> volume.</p>
 <p class="paragraph">The launch is also to be accompanied by a 6-month incentive program designed by Chaos Labs that will enable active traders to receive rewards for performing various activities on the dYdX chain and will distribute a total of $20 million worth of rewards.</p>
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 <p class="paragraph">It is noteworthy, however, that the distribution of rewards as part of the incentive program is still subject to community vote, per the information shared with <em>Finbold</em>.</p>
 <h2 class="wp-block-heading" id="h-one-way-bridge-from-eth-to-dydx">One-way bridge from ETH to DYDX</h2>
 <p class="paragraph">The launch of full <a rel="noopener noreferrer nofollow" title="trading" href="https://thebittimes.com/tag/trading.html">trading</a> will also be accompanied by a migration from the Ethereum (ETH) chain to dYdX. This will be accomplished using a permissionless and autonomous one-way bridge –&nbsp; the wethDYDX Smart Contract.&nbsp;</p>
 <p class="paragraph">The move will permanently lock the users’ ethDYDX tokens in exchange for wethDYDX on Ethereum and DYDX, the L1 token that powers the dYdX Chain. The dYdX foundation officially announced its pivot from Ethereum in late October when it announced its support for the native layer-1 dYdX Chain&nbsp;</p>
 <figure class="wp-block-image aligncenter"><img decoding="async" src="https://thebittimes.com/image/getimage/?url=https://lh7-us.googleusercontent.com/9vpcKeOlYlVo9PbT185wwqqHs3H0vYxBbe4OLot1mAr6acLLgQshqqdkxv-li_0xlxnxB8KKV-mahupZflHhvbezcMZkWrP1t-sZA3HnoAnfndqzjGbA5VNyQawx79pCt8veBcDU1X0B85mkOzitjsw" alt>
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   DYDX all-time price chart. Source: Finbold
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 </figure>
 <p class="paragraph">Shortly after its launch, the DYDX token surged to a value of more than $26 before plummeting. The token has since stabilized and spent most of 2023 in the range between $1.50 and $3. Its price stands at $3.19 at the time of publication.</p>
 <p class="paragraph"><strong><em>Disclaimer</em></strong><em>: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/dydx-advances-out-of-beta-and-into-full-trading-tbt71925.html">https://thebittimes.com/dydx-advances-out-of-beta-and-into-full-trading-tbt71925.html</a></p>

dYdX advances out of beta and into full trading

Inhoudsopgave

TheBitTimes

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