With delight, the dYdX Foundation announces the open-sourcing of software for a Bridge User Interface. 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 developments:
- October 24, 2023 – The release of the dYdX Chain open-source software was announced by dYdX Trading Inc.
- 26 October 2023 – The dYdX Operations subDAO announced that Genesis Validators took part in the building of the first block of the dYdX Chain, marking the mainnet genesis of the dYdX Chain.
- 30 October 2023 – The deployment and public release of the Bridge User Interface was announced by the dYdX Operations subDAO.
The dYdX Operations subDAO has declared that a Bridge User Interface has been deployed and made accessible to the public, subsequent to the dYdX Chain’s mainnet genesis and the software’s open sourcing. With this advancement, users may now link their DYDX tokens from Ethereum to the dYdX Chain, increasing the token’s potential uses. One may utilize the bridging tutorial provided here or go to bridge.dydx.trade to convert ethDYDX into dYdX Chain DYDX. Moreover, 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 emphasized in a recent blog post by the dYdX Operations subDAO. The dYdX Chain is now in phases Alpha and Beta of the Post-Genesis phase.
Supporting the network’s security and stability is 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 amount of stake on the network rises.
A successful dYdX Chain governance vote and performance metrics are two of the most important requirements for advancing 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 choose public accessibility during the Beta stage, operating a protocol front-end and contracting the function of an indexer. More information is available here on the dYdX Operations subDAO blog.
This blog article contains further information regarding the dYdX Foundation’s open-source bridge User Interface software.
