Stake DYDX to dYdX Chain using keplr wallet
1- Visit Keplr Dashboard for dYdX Chain and log in with Keplr wallet using the imported dYdX Chain account.
2- Open the ‘Staking’ tab on Keplr Dashboard under dYdX Chain. Here, at the bottom, you will see a list of all active validators on the dYdX Chain.
3- Decide the validator(s) that you want to stake to then click the arrow next to those validator(s)
If you are not sure about the validator that you want to stake to, we encourage you to review “A Take on Good Practices for dYdX Chain Validators and Stakers”. More information about the staking module is available in the dYdX Chain documentation.
5- Enter the number of DYDX tokens you want to stake to the respective validator(s) and then click ‘Stake’
You can stake 100% (max) of your DYDX tokens to one validator or spread your stake across multiple validators.
6- Click ‘Approve’ to confirm the staking transaction and pay the gas fee on dYdX Chain. Once that transaction is complete, you have successfully completed all steps to stake DYDX.
7- The validators you have staked to will appear on the top of the page on the Keplr Dashboard. You should now see your staked totals, any pending rewards to be claimed as well as options to claim rewards and manage existing delegations with each of your validators.
How to claim USDC rewards from staking
To claim USDC rewards from staking, follow the below steps:
Once your rewards are claimable you can see them in the claimable rewards section as displayed in the screenshot.
Navigate to the right corner of the page “Claim Section”. Note this section is only displayed if you have USDC rewards to claim.
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.
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, Keplr 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.
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.
More information is available here.
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.
More information is available here.
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.