dYdX Chain 成为 DeFi 交易强者，迎来去中心化革命

2023 年 10 月 26 日，dYdX Chain 及其原生代币 DYDX 上线。 75.2% 的原始 ethDYDX 代币已迁移到 dYdX 链。 dYdX 链通过权益证明进行保护，并允许通过权益进行社区治理和增强安全性。质押者以 USDC 形式收到 100% 的协议费用，这些费用可以进行再投资或用作抵押品。

dYdX Chain Emerges as a Decentralized Trading Powerhouse, Ushering in a New Era for Defi

dYdX Chain成为去中心化交易强国，开启Defi新时代

On October 26, 2023, the dYdX Chain, along with its native Layer 1 token DYDX, was unleashed upon the world of decentralized finance, heralding a paradigm shift in the industry. With 75.2% of the total volume of ethDYDX tokens migrating to the dYdX Chain within a short span, it became evident that traders and investors were swiftly embracing this new decentralized ecosystem.

2023 年 10 月 26 日，dYdX 链及其原生第 1 层代币 DYDX 被释放到去中心化金融世界，预示着行业范式的转变。随着 ethDYDX 代币总量的 75.2% 在短时间内迁移到 dYdX 链，很明显交易者和投资者正在迅速接受这个新的去中心化生态系统。

The Genesis of ethDYDX: Empowering Community Governance

ethDYDX 的起源：赋能社区治理

dYdX Foundation initially launched ethDYDX on August 3, 2021, as a governance-only token for the dYdX Layer 2 protocol on Ethereum (ETH)—dYdX v3. This empowered the community to shape the future of dYdX v3, fostering an ecosystem centered around governance, rewards, and staking.

dYdX 基金会最初于 2021 年 8 月 3 日推出 ethDYDX，作为以太坊 (ETH) 上 dYdX 第 2 层协议（dYdX v3）的纯治理代币。这使社区能够塑造 dYdX v3 的未来，培育以治理、奖励和质押为中心的生态系统。

The dYdX Chain: A Milestone in Decentralization

dYdX 链：去中心化的里程碑

The dYdX Chain represents a pivotal step in the decentralization journey of dYdX. Unlike its predecessor, dYdX v3, which operated as a non-custodial hybrid Layer 2 DEX on Ethereum with a centralized orderbook and matching engine, the dYdX Chain stands as a fully independent Layer 1 network with a decentralized structure.

dYdX 链代表 dYdX 去中心化之旅的关键一步。与它的前身 dYdX v3 不同，dYdX v3 在以太坊上作为非托管混合第 2 层 DEX 运行，具有集中式订单簿和匹配引擎，dYdX 链是一个完全独立的具有去中心化结构的第 1 层网络。

Ensuring Robust Security: Proof-of-Stake and Liquid Staking

确保稳健的安全性：权益证明和流动性权益证明

The security of the dYdX Chain is underpinned by a robust Proof-of-Stake (PoS) mechanism, where token holders stake their DYDX to Validators who safeguard the integrity of the network. Currently, approximately 149 million DYDX (14.9% of the total supply) are staked to active Validators on the dYdX Chain.

dYdX 链的安全性以强大的权益证明 (PoS) 机制为基础，代币持有者将其 DYDX 质押给保护网络完整性的验证者。目前，大约 1.49 亿个 DYDX（占总供应量的 14.9%）被质押给 dYdX 链上的活跃验证者。

Moreover, the dYdX Community recently voted to liquid-stake 20 million DYDX with Stride, a move designed to further enhance Validator decentralization, minimize the risk of malicious attacks, and bolster overall network security. Staking rewards are automatically compounded in USD Coin (USDC) and subsequently converted into DYDX by the Stride protocol, which are then staked again for additional rewards. This demonstrates the community's unwavering commitment to safeguarding the security and stability of the dYdX Chain while proactively managing its treasury.

此外，dYdX 社区最近投票决定通过 Stride 流动质押 2000 万个 DYDX，此举旨在进一步增强验证人的去中心化，最大限度地降低恶意攻击的风险，并增强整体网络安全性。质押奖励会自动以美元硬币（USDC）复利，随后通过 Stride 协议转换为 DYDX，然后再次质押以获得额外奖励。这表明社区坚定不移地致力于维护 dYdX 链的安全性和稳定性，同时积极管理其资金。

Staking Rewards: Incentivizing Participation and Growth

质押奖励：激励参与和成长

A fundamental aspect of the dYdX Chain is its generous staking rewards system, which allocates 100% of the protocol's fees to DYDX stakers who contribute to network security. This mechanism opens up lucrative opportunities for stakers, enabling them to accumulate crypto assets, reinvest in USDC, or utilize USDC as collateral for trading on the dYdX Chain.

dYdX 链的一个基本方面是其慷慨的质押奖励系统，该系统将 100% 的协议费用分配给为网络安全做出贡献的 DYDX 质押者。这种机制为利益相关者提供了有利可图的机会，使他们能够积累加密资产、再投资 USDC，或利用 USDC 作为在 dYdX 链上进行交易的抵押品。

To date, the dYdX Chain has generated over $120 billion in cumulative trading volume, with more than $20 million in USDC distributed to stakers, highlighting the immense potential of this decentralized trading ecosystem.

迄今为止，dYdX Chain 的累计交易量已超过 1200 亿美元，其中超过 2000 万美元的 USDC 分配给了质押者，凸显了这个去中心化交易生态系统的巨大潜力。

Enhanced Governance: Power in the Hands of the Community

加强治理：权力掌握在社区手中

The decentralized nature of the dYdX Chain grants the community unparalleled control over the platform's governance processes. Unlike dYdX v3, which required higher minimum deposits for proposals and a more cumbersome market listing process, the dYdX Chain boasts reduced barriers to entry for governance participation, empowering the community to actively shape the future of the platform.

dYdX 链的去中心化性质赋予社区对平台治理流程无与伦比的控制权。与 dYdX v3 不同，dYdX v3 要求更高的提案最低存款额和更繁琐的市场上市流程，dYdX Chain 降低了治理参与的准入门槛，使社区能够积极塑造平台的未来。

Conclusion

结论

The launch of the dYdX Chain marks a pivotal chapter in the evolution of decentralized finance. Its robust Proof-of-Stake security, innovative liquid staking mechanism, generous staking rewards, and enhanced governance model have positioned it as a formidable force within the DeFi landscape. The dYdX Chain is a testament to the power of decentralization and the unwavering commitment of the dYdX community to drive the industry forward. As the platform continues to evolve, it is poised to redefine the boundaries of decentralized trading and empower a new generation of crypto enthusiasts.

dYdX Chain 的推出标志着去中心化金融发展的关键篇章。其强大的权益证明安全性、创新的流动质押机制、丰厚的质押奖励和增强的治理模式使其成为 DeFi 领域的一支强大力量。 dYdX 链证明了去中心化的力量以及 dYdX 社区推动行业前进的坚定承诺。随着该平台的不断发展，它有望重新定义去中心化交易的边界，并为新一代加密货币爱好者提供支持。