dYdX Launches New Native Blockchain with $20 Million in Token Rewards
dYdX, a decentralized exchange, has launched its own native blockchain called dYdX Chain, which was built using the Tendermint consensus with the Cosmos SDK. The launch of the new chain includes a six-month incentive program, worth $20 million, for traders to receive rewards based on their activity. The rewards program is aimed at increasing trading volumes and liquidity, encouraging market makers to prioritize the dYdX Chain, and securing the chain through staking. The dYdX DEX currently offers markets for Bitcoin, Ethereum, Solana, and Chainlink, with plans to continuously add new markets in the future.
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