Liquid Staking allows users to continue to stake and secure the dYdX Chain, whilst converting staked DYDX into a liquid, fungible asset (a liquid staking token or LST) that can be traded or utilized in DeFi applications, among other things. Liquid Staking further unlocks liquidity for the DYDX token by enabling Stakers to avoid the 30-day un-bonding period. Further, users leveraging Liquid Staking may continue to earn dYdX Chain staking rewards while using the applicable liquid-staked DYDX tokens in applications like liquidity pools or lending protocols, greatly enhancing overall accessibility. Traders will need to use a compatible wallet to do so, such as Keplr.
This exciting feature of the dYdX Chain unlocks new benefits for users, enhances liquidity, increases security and stability of the Chain and contributes to decentralization of the Validator set. Visit Stride and Quicksilver to see the dYdX Chain Liquid Staking solution.
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.