dYdX (DYDX) Staking

How to Stake DYDX

1. Navigate to https://wallet.keplr.app/

2. Click the Search Chains field and type dYdX

3. Click dYdX

4. Click the Search Validator field and type Coinage x Daic

5. Click Coinage x DAIC

6. Click Stake

1. Click the Amount field, enter the number of dYdX tokens you want to stake and Click Stake

10. Approve the Keplr wallet transaction pop-up

11. Congratulations! Your KUJI tokens have been staked

About dYdX (DYDX)

dYdX is a decentralized exchange (DEX) specializing in perpetual futures trading, offering users advanced tools for derivatives trading without the need for intermediaries. Operating on its dedicated Layer 1 blockchain, dYdX Chain, built using the Cosmos SDK and CometBFT consensus protocol, the platform ensures scalability, security, and full decentralization across its front-end, order book, matching engine, and consensus mechanism.

The native token, DYDX, serves multiple functions within the ecosystem, including governance participation, staking for network security, and transaction fee payments. This multi-faceted utility empowers token holders to influence the platform's development and benefit from its growth.

What Makes dYdX Special?

dYdX distinguishes itself through several key features:

• Perpetual Futures Trading: The platform focuses on perpetual contracts, allowing traders to speculate on asset prices without expiration dates, providing flexibility and continuous trading opportunities.
• Decentralized Order Book and Matching Engine: By maintaining an off-chain order book with on-chain settlement, dYdX achieves efficient trade execution while preserving decentralization, ensuring transparency and security.
• Cosmos Integration: Operating as a Cosmos-based chain, dYdX benefits from enhanced scalability and interoperability within the Cosmos ecosystem, facilitating seamless cross-chain interactions and liquidity sharing.
• User-Centric Design: With a focus on providing a fully decentralized, non-custodial trading experience, dYdX eliminates the need for Know Your Customer (KYC) procedures, offering users privacy and control over their assets.
• Governance and Incentives: dYdX token holders actively participate in governance decisions, shaping the platform's future, while staking and trading activities are rewarded, fostering an engaged and motivated community.

Through these innovations, dYdX provides a robust and user-friendly platform for decentralized derivatives trading, contributing significantly to the evolution of the DeFi landscape.

Links:

• Website
• Github
• Blog
• Explorer
• Twitter
• Discord
• Reddit

Learn More About dYdX

• dYdX Chain: A Perpetual DEX Trading Powerhouse on Cosmos

dYdX Staking FAQ

How much can I make staking dYdX?

The return from staking dYdX varies based on the network's overall staking participation, real yield, and specific validator commission. Rewards are paid in USDC tokens.

How do I receive my dYdX rewards?

dYdX rewards need to be claimed. Visit the Keplr dashboard to claim your staking rewards

When can I start earning rewards with dYdX?

You can start earning staking rewards as soon as your tokens are successfully delegated to a validator.

Can I sell dYdX while it is staked?

Staked dYdX tokens cannot be sold,they need to be unstaked first. The unstaking period for dYdX is 30 days.

What are the risks around staking dYdX?

Staking dYdX comes with risks like slashing (penalty for the validator), price volatility, and liquidity risk (inability to sell during the lock-up period).

What consensus algorithm does dYdX use?

dYdX chain is based on the Cosmos SDK and CometBFT proof-of-stake consensus protocol.

What are the tokenomics of dYdX?

Read all about dYdX tokenomics here