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 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. 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)	1.52
   Uphold	dYdX (Wormhole) (DYDX)	1.47
   Kraken	dYdX (Wormhole) (DYDX)	1.54
   OKX	dYdX (Wormhole) (DYDX)	1.52
   Binance	dYdX (Wormhole) (DYDX)	1.57
   BTSE	dYdX (Wormhole) (DYDX)	1.52

   See all 20 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 7.1 APY

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 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.