Where and how to stake dYdX (Wormhole) (DYDX)

Introduction

Staking dYdX (Wormhole) can be a great option for those who wish to hold DYDX while earning yield in a safe manner and contributing to the network. The steps can be somewhat daunting, especially the first time you do them. That’s why we have put together this guide for you.

Step-by-Step Guide

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

   To stake dYdX (Wormhole), you need to have it. To obtain dYdX (Wormhole), you'll need to buy it. You can choose from these popular exchanges.

   Platform	Coin	Price
   Nexo	dYdX (Wormhole) (DYDX)	0.57
   Uphold	dYdX (Wormhole) (DYDX)	0.57
   Kraken	dYdX (Wormhole) (DYDX)	0.57
   OKX	dYdX (Wormhole) (DYDX)	0.57
   Binance	dYdX (Wormhole) (DYDX)	0.57
   BTSE	dYdX (Wormhole) (DYDX)	0.57

   See all 46 prices

2. 2. Select 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 suggest using a staking pool for staking DYDX. It's easier and quicker to get started. A staking pool is a collection of validators who combine their DYDX, which increases their odds of validating transactions and earning rewards. You can do this through your wallet’s interface.

4. 4. Start Validating

   You'll have 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 Keep in Mind

You need to keep in mind the transaction and staking pool fees. Additionally, there might be a waiting period before you begin earning rewards. The staking pool will need to generate blocks, and this can take a while.