Step 1 - Onboard to Leap Wallet via Desktop and Mobile
dYdX community members have the option to access a staking dashboard on Leap. If you choose to participate in staking, dYdX Chain users can use Leap’s dYdX dashboard to stake assets and earn rewards.
With Leap Wallet, you’ll be able to access one-click staking, governance, portfolio management and more. The below guide is for Desktop.
Step 1 (a): Start by Installing Leap Wallet
Step 1 (b): Install Leap browser extension to a compatible browser like Chrome, Edge or Brave.
Step 2 - Import using a Seed Phrase
Step 2 (a): After installing Leap wallet on your browser, under the Import an existing wallet section, select “Using a seed phrase”.Step 2 (b): Select “24 words” in the Import via Seed Phrase page.
Step 3 - Export secret phrase from the bridge interface
dYdX Chain users can export their secret phrase from the bridge interface operated by the dYdX Operations subDAO. Visit https://bridge.dydx.trade/ and connect your Ethereum wallet to export your secret phrase.
Step 3 (a): dYdX Chain users can export their secret phrase from the bridge interface. This seed phrase will be used to set up Leap Wallet
Step 3 (b): Navigate to the drop-down options on the top right-hand corner of your screen and select “Export secret phrase”.
Note: When exporting a secret phrase, it's crucial to keep it highly secure. Anyone who has the secret phrase can control all the assets in the wallet, so it's highly recommended to do this on a secure computer.
Step 3 (c): Check the box to acknowledge that your understand the risks and click ‘Reveal secret phrase’.
Step 3 (d): Click the “Click to show” box.
Step 3 (e): After revealing the secret phrase, click “Copy”. Please make sure you remember to securely store your secret phrase.
Step 4 : Setup your Leap wallet
Step 4 (a) : Paste the secret phrase, scroll down, and click on “Import Wallet”.Step 4 (b): Select Wallet 1 with balances that you wish to import and select “Proceed”.Step 4 (c): Set up a strong password and select “Proceed”. That’s it, you’re now ready to stake
Step 5 - Stake DYDX to dYdX Chain
Leap’s dYdX Staking page lets you easily stake your assets. As with all PoS consensus mechanisms staking directly contributes to security and stability of the chain. When you stake, you secure the dYdX Chain and earn rewards.
Step 5 (a): Go to Leap’s dYdX dashboard, your Leap Wallet should already be connected and if not click on connect wallet and select Leap.
Step 5 (b): Enter the amount you wish to stake.
Step 5 (c): Click on the Validator drop down to get the list of active Validators.
Step 5 (d): Choose the Validator/Validators you wish to stake with.
Step 5 (e): Click on stake and approve the transaction and pay the gas fee on dYdX Chain. Once the transaction is complete, you’ve successfully staked DYDX.
Step 5 (f): Click on Manage portfolio or go to https://cosmos.leapwallet.io/transact/stake/plain to see the Validators you’ve currently staked with. Here, you’ll also be able to claim rewards, redelegate, & unstake your assets.
5 (g): In case of a failed transaction, it could be due to the following reasons:
Not enough gas fee: Sending a transaction on dYdX Chain would require a certain amount of DYDX or USDC to be paid to Validators as gas fee. Note, the selection of the asset, DYDX or USDC, to pay gas will be made by the user and will need to be accepted by the Validator. Make sure that you have enough DYDX or USDC to pay for the gas fee associated with the staking transaction.
Staking more than the available balance: Make sure that the amount you are planning to stake plus the gas fee is less than the available DYDX and/or USDC balance in your wallet.
Unable to verify transaction status: While the transaction may have been successful, Leap may be unable to verify the status of your transaction. Make sure to check your address on the block explorer and wait 5-10 minutes before attempting another transaction.
5 (h): Important information about Staking:
Un-stake and the Un-bonding Period: DYDX holders who stake DYDX to a validator can send a transaction to unstake and remove their tokens from being staked to a Validator. After this transaction, the DYDX tokens enter an unbonding period.
Re-delegation: Instead of un-staking and waiting the un-bonding period, Stakers can choose to delegate 100% or a portion of their staked DYDX to a separate validator without having to wait for the un-bonding period. During the re-delegation process, the tokens remain staked, meaning they continue to contribute to the network's security and potentially earn rewards for the delegator. However, a user’s slashing risk with the original validator remains until the un-bonding period concludes. For example, a user stakes 20 DYDX to Validator A for 59 days, on day 60 the user decides to re-delegate their 20 DYDX to Validator B. From days 60-90, the user is at a risk of having a portion of their 20 staked DYDX slashed based on the conduct of Validator A. After the 90th day, the slashing risk transitions to Validator B. After redelegating, any DYDX that was redelegated must wait 30 days before it can be redelegated.
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.