The independent layer 1 dYdX chain based on Cosmos has entered the mainnet beta phase, allowing for active trading. Users can now participate in trading over 33 perpetual contract markets, offering up to 20x leverage.

No trading rewards will be distributed during this phase, but validators and participants will receive transaction fees. Once the dYdX chain is stable and has few bugs or issues, progress from active trading to full trading (including rewards) will be determined by another governance vote.

dYdX is also working with Circle and Noble Chain to leverage Circle’s Cross-Chain Transfer Protocol (CCTP). This will allow users to send their USDC (which is considered collateral by the dYdX chain) from other chains directly to the dYdX chain in a simple and secure manner.

CCTP allows users to send USDC to supported blockchains through a native burn and mint process without the need for a hosted bridge. Circle’s CCTP became available on Noble’s testnet on November 3 and will go live on the network’s mainnet on November 28.