Where and How to Stake dYdX (Wormhole) (DYDX)

Introduction

Staking dYdX (Wormhole) can be a great option for those who want to hold DYDX but earn yield in a safe way while contributing to the network. The steps can be a bit daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. 1. Acquire dYdX (Wormhole) (DYDX) Tokens

   To stake dYdX (Wormhole), you need to own it. To get dYdX (Wormhole), you'll need to buy it. You can select from these popular exchanges.

   Platform	Coin	Price
   Nexo	dYdX (Wormhole) (DYDX)	0.54
   Binance	dYdX (Wormhole) (DYDX)	0.54
   BTSE	dYdX (Wormhole) (DYDX)	0.64
   Kraken	dYdX (Wormhole) (DYDX)	0.54
   OKX	dYdX (Wormhole) (DYDX)	0.53
   Uphold	dYdX (Wormhole) (DYDX)	0.58

   See all 46 prices

2. 2. Choose a dYdX (Wormhole) Wallet

   Once you have DYDX, you’ll need to choose a dYdX (Wormhole) wallet to store your tokens. Here are some good options.

   Platform	Coin	Staking rewards
   Binance	dYdX (Wormhole) (DYDX)	Up to 2.19% APY

   See all 4 staking rewards

3. 3. Delegate Your DYDX

   We recommend using a staking pool when staking DYDX. It’s simpler and faster to get up-and-running. A staking pool is a group of validators who combine their DYDX, which gives them a higher chance of validating transactions and earning rewards. You can do this through your wallet’s interface.

4. 4. Start Validating

   You’ll need to wait for your deposit to be confirmed by your wallet. Once it’s confirmed, you’ll automatically validate transactions on the dYdX (Wormhole) network. You’ll be rewarded with DYDX for these validations.

What to be Aware of

There are transaction and staking pool fees you need to consider. There might also be a waiting period before you start earning rewards. The staking pool will need to generate blocks, and this can take some time.