Tutorial: How to safely stake DYDX and earn USDC

Original source: dYdX

Original compilation: BlockBeats

On the decentralized derivatives platform dYdX, users can use Ledger security Stake DYDX and earn USDC.

Stake DYDX and earn USDC

All fees on the dYdX chain (takers ( Taker/Maker fees) are borne by validators and pledgers, and are mainly distributed in the form of USDC. This creates a reward mechanism that does not put inflationary pressure on the native token and provides utility to validators and stakeholders.

Validators can set a specific commission rate for any staking rewards assigned to stakers by the protocol, ranging from a minimum of 5% to a maximum of 100%, as applicable stakers for each verification node. This commission will be deducted from the staking rewards allocated to these stakers by the protocol and retained by the relevant validators. Currently, the average validator commission on the dYdX chain is based on Minstcan The rate is 6.08%.

For details, please refer to the dYdX Foundation Blog about staking DYDX

As of January 12, 2024 On this day, the annual interest rate for staking DYDX ranges from 9% to 25%. This is because the amount of fees dYdX Chain receives depends on the market conditions that day.

Users can View here Payouts to stakers and validators so far How many rewards?

· Since stakers receive rewards in the form of USDC, they don’t have to worry about the volatility of DYDX.

· Since dYdX transaction fees are the source of staking rewards, stakers do not have to worry about inflation of the DYDX token.

DYDX token holders can stake DYDX on any active verification node through Keplr, please refer to This link query

For information about using Keplr to pledge DYDX, please refer to: https://www.dydx.foundation/how-to-stake/keplr-user

As of now, dYdX Chain has issued more than 2 million USDC staking rewards to more than 7,500 pledgers in less than 2 months since its launch.

Use Ledger to stake safely

Staking means that users need to hold DYDX for a long time. The security issues are very important, and users can easily stake DYDX through Ledger integrated with Keplr.

Here are instructions on how to integrate Ledger with Keplr: https://support.ledger.com/hc/en-us/articles/4411149814417-Set -up-and-use-Keplr-to-access-your-Ledger-Cosmos-Ecosystem-Accounts?docs=true

Use Stride for Liquidity Staking ( Coming soon)

DYDX token holders can use https://app.stride.zone/ to stake their DYDX for liquidity on Stride. In exchange, holders will receive stDYDX, which will allow them to continue to receive staking rewards while maintaining the liquidity of the token. This will give users the flexibility to simultaneously earn staking rewards and use those tokens in DeFi protocols, or exit their positions immediately without having to wait for dYdX’s 30-day staking cancellation period.

See more here: https://dydx.forum/t/announcing-stdydx-and-stride-s-initial-host-chain-validator-set/ 1960

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