How to Stake dYdX (Wormhole) (DYDX): A Step-by-Step Guide

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 little daunting, especially the first time you do them. That’s why we’ve put this guide together for you.

Step-by-Step Guide

1. Obtain dYdX (Wormhole) (DYDX) Tokens
In order to stake dYdX (Wormhole), you need to have it. To obtain dYdX (Wormhole), you'll need to purchase it. You can choose from these popular exchanges.
Platform Coin Price
Nexo dYdX (Wormhole) (DYDX) 0.2
Binance dYdX (Wormhole) (DYDX) 0.2
BTSE dYdX (Wormhole) (DYDX) 0.64
Kraken dYdX (Wormhole) (DYDX) 0.2
OKX dYdX (Wormhole) (DYDX) 0.66
Uphold dYdX (Wormhole) (DYDX) 0.58
See all 46 prices
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. 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. 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.

Platform	Coin	Price
Nexo	dYdX (Wormhole) (DYDX)	0.2
Binance	dYdX (Wormhole) (DYDX)	0.2
BTSE	dYdX (Wormhole) (DYDX)	0.64
Kraken	dYdX (Wormhole) (DYDX)	0.2
OKX	dYdX (Wormhole) (DYDX)	0.66
Uphold	dYdX (Wormhole) (DYDX)	0.58

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

What to be Aware of

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