Staking allows you to bond DYDX tokens to the dYdX Chain validators to secure and govern the network. All protocol fees go to stakers, less any insurance fund fees and validator commissions. Staking rewards are in the form of USDC and can be claimed whenever available. This USDC can then be used to trade with or however the user wishes.
How to stake DYDX
Warning: When staking that there is an unstaking period of 30 days. There is no ability to undo once staked, so please double check the amount you intend to stake as the only way to retrieve that amount is via unstaking and waiting 30 days.
Ensure you have DYDX tokens in your dYdX address. You can earn DYDX token rewards from trading or you can transfer DYDX tokens to your address from a CEX (i.e., Binance) or from another wallet address
Navigate to the "DYDX" page in the header
Navigate to the top right staking widget. Here you will see the amount of DYDX token staked and unstaked as well as your total balance across staked, unstaked, and (in progress) unstaking tokens
Click the "Stake" button to open the stake modal
Input the amount to stake. Note that clicking "max" will input almost all DYDX tokens less an amount needed for gas and buffer
[Optional] Make an alternative validator selection from the dropdown menu
Click "Stake" and confirm
How to unstake DYDX
Note: If you unstake from a validator before claiming your staking rewards, the staking rewards will be automatically claimed upon starting the unstaking process.
Navigate to the "DYDX" page in the header
Navigate to the top right staking widget. Here you will see the amount of DYDX token staked and unstaked as well as your total balance across staked, unstaked, and (in progress) unstaking tokens
Click the "Unstake" button to open the unstake modal
Input the amount to unstake from the validator(s) you have staked to
Click "Unstake" and confirm. Note unstaking takes 30 days. You can see the unstaking progress on the right side of the DYDX page under the staking widget
How to claim USDC rewards from staking
Navigate to the "DYDX" page in the header
Navigate to the top right claim section of the page. Note this section is only displayed if you have USDC rewards to claim
Click the "Claim" button to open the claim modal
Click "Claim" to claim all of your USDC rewards. Note you can only claim if the reward amount is greater than the gas needed to claim.
Voilà! You are now ready to trade with this USDC
Disclaimer and Terms
This document may provide information with respect to the dYdX Chain software, and/or non-mandatory guidelines and suggestions that may help with using dYdX Chain software. dYdX Operations Services Ltd. does not run dYdX Chain validators nor operate or control the dYdX Chain network. dYdX Operations Services Ltd. is not responsible for any actions taken by other third parties who use dYdX Chain software. dYdX Operations Services Ltd. services and products are not available to persons or entities who reside in, are located in, are incorporated in, or have registered offices in the United States or Canada, or Restricted Persons (as defined in the Terms of Use). The content provided herein does not constitute, and should not be considered, or relied upon as, financial advice, legal advice, tax advice, investment advice or advice of any other nature, and you agree that you are responsible to conduct independent research, perform due diligence and engage a professional advisor prior to taking any financial, tax, legal or investment action related to the foregoing content. Stride and Keplr are independent from and unaffiliated with dYdX Operations Services Ltd., and dYdX Operations Services Ltd. is not responsible for any action taken by Stride, Keplr or any other third parties, including content set forth on any third-party websites, such as any links to such content in this document. The information contained herein, and any use of products or services provided by dYdX Operations Services Ltd., are subject to the Terms of Use.