<p>Looking to stake your DYDX? In this article we'll lay out the options available to you including which wallets to use, choosing a validator and tips for maximizing your rewards. Let's start from the beginning...</p><p>&nbsp;</p><div class="raw-html-embed">
<iframe width="560" height="315" src="https://www.youtube.com/embed/oOvboyKRGxI?si=AjpypR9Y7N2glGEB" title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen=""></iframe></div><p>&nbsp;</p><h2><strong>Where to buy DYDX</strong></h2><p>You can get DYDX tokens through a DEX, or within select wallets. You should always do your own research when selecting a reputable cryptocurrency exchange. For best security, it is not recommended to leave your tokens on a centralized exchange, but to transfer them to your non-custodial or cold/hardware wallet after procuring them.</p><ul><li>Purchase DYDX through&nbsp;<a href="https://app.osmosis.zone/?from=ATOM&amp;to=DYDX">Osmosis Dex</a></li><li>Purchase DYDX through&nbsp;<a href="https://www.okx.com/trade-spot/dydx-usdt?channelid=1902090">OKX</a></li></ul><h2><strong>DYDX wallets</strong></h2><p>dYdX has a variety of non-custodial wallets for you to choose from. We recommend that you use a hardware wallet such as Ledger otherwise we suggest using Keplr wallet. Compatible wallets include:</p><ul><li><a href="https://onelink.to/exodus-stakingreward">Exodus Wallet</a></li><li><a href="https://keplr.app/">Keplr</a></li><li><a href="https://metamask.io/">Metamask</a></li><li><a href="https://www.coinbase.com/wallet">Coinbase Wallet</a></li><li><a href="https://walletconnect.com/">Wallet Connect</a></li></ul><h2><strong>How to connect DYDX to Keplr</strong></h2><p>When setting up your Keplr wallet, it will automatically create a dYdX account for you and connect you to the network.</p><h2><strong>Selecting dYdX validators</strong></h2><p>Please refer to the FAQ section titled ‘How do I choose dYdX validators’ on&nbsp;<a href="https://www.stakingrewards.com/earn/dydx/"><strong>this page</strong></a> when selecting dYdX validators. Also, you may want to utilize our criteria for verifying providers through the&nbsp;<a href="https://docs.stakingrewards.com/verified-provider-program/">Staking Rewards Verified Provider Program (VSP)</a>.</p><h2><strong>How Staking Rewards for dYdX (DYDX) are Generated</strong></h2><p>Staking rewards for DYDX are composed of:</p><ul><li>Trading fees:&nbsp;Traders on dYdX pay a taker and maker fee in USDC that differs depending on their trading volume</li><li>Gas fees:&nbsp;DYDX-denominated gas fees from transactions submitted by users on the chain.Higher trading volume on dYdX will lead directly to higher rewards for stakers.</li></ul><h2><strong>How to stake DYDX</strong></h2><h3><strong>Step 1: Make sure you have a Keplr wallet</strong></h3><p>Stake your DYDX tokens using Ledger, Keplr, Metamask, amongst others. We will use the Keplr wallet in this staking tutorial.</p><p>As a popular wallet in the dYdX ecosystem, Keplr offers users the ability to stake tokens, access blockchain apps, and manage multiple tokens in one wallet. Simply connect your Ledger (if applicable) to Keplr wallet or use Keplr wallet directly to stake DYDX. Install the&nbsp;<a href="https://chrome.google.com/webstore/detail/keplr/dmkamcknogkgcdfhhbddcghachkejeap?hl=en"><strong>Keplr browser extension</strong></a> and deposit your tokens into this wallet before continuing onto step 2.</p><h3><strong>Step 2: Go to the dYdX staking portal and choose a validator</strong></h3><p>Go to the&nbsp;<a href="https://wallet.keplr.app/chains/dydx">dYdX staking dashboard</a> on Keplr and follow the steps below:</p><ul><li>Click the&nbsp;‘Connect Wallet’&nbsp;button in the top-right hand corner of the page</li><li>Select validators by clicking on their name</li><li>Click ‘Stake’</li></ul><p><img src="https://lh7-us.googleusercontent.com/G7MUqB2JhwnWICLFEiGnVxhjq071gdLF3DL5GmYfWL4ADixzmsmzKc-Fgvc_Bp9i2dCdq87lTTgDgaEXLJiEt5QsMVE1mR-3CmWvo1OYG04Xt6KSWpTizucxQxtjspVfb8vK_u-eRRhTbMbFF6eQ_HoiHsFu2MTt1nSfZxjlOINa-6O39krl3KtetreWhg" width="624" height="412"></p><p>We recommend choosing validators from our Verified Staking Provider (VSP) Program, VSPs have a blue tick on their logo here. If you are unsure of how to choose a validator, please see the FAQ section named ‘Selecting dYdX validators’ above this one to help you decide.&nbsp;</p><h3><strong>Step 3: Finalize the transaction</strong></h3><p>Enter the amount of DYDX you want to stake, press ‘Stake’ and approve the transaction in your wallet.</p><p><img src="https://lh7-us.googleusercontent.com/xb078oHlak81OKrhPgT6cGZnddMCCQ03qbUR73-YB0S0RA0vygSk7rgBMC48EN5W4eyJCLZzKRYGLsecqGbTzDIhruKdqJvmY75b11xb1z_iu2wz5B24IJQPabmM52EV6ZJ4Do8_G7Ogw7x42KEQVpkHQI9RkOOEUBbv4KBG6-PrRCKGUJFHOmVsTp8CZw" width="624" height="412"></p><p>Congratulations! You have now staked your DYDX tokens and will start earning those juicy staking rewards.&nbsp;</p><h3><strong>Step 4: Track staking portfolio</strong></h3><ul><li>Track your DYDX staking rewards on the&nbsp;<a href="https://wallet.keplr.app/?tab=staking">dYdX staking dashboard</a>.</li><li>Monitor&nbsp;<a href="https://dydx.vote/">governance proposals on dYdX network</a> that may impact the staking mechanism.</li><li>Track the current and historical reward rates, validator count, number of unique dYdX staking wallets, and staking ratio of the dYdX network by visiting the&nbsp;<a href="https://www.stakingrewards.com/earn/dydx/">dYdX asset page</a>. To make better staking decisions, it's essential to understand these relevant data points. To learn how these data points could impact your staking rewards, please read more in the FAQ sections named “How do I choose dYdX validators” and “How are the rewards generated” on the&nbsp;<a href="https://www.stakingrewards.com/earn/dydx/">dYdX asset page</a>.</li></ul><h3><strong>Step 5: How to Unstake DYDX</strong></h3><p>To unstake your DYDX tokens, follow the steps below:&nbsp;</p><ul><li>Go to the&nbsp;<a href="https://wallet.keplr.app/?tab=staking">staking dashboard</a></li><li>Click on the validator name</li><li>Click ‘Unstake’</li><li>Sign the transaction</li></ul><p><br>We recommend choosing validators from our Verified Staking Provider (VSP) Program, VSPs have a blue tick on their logo here. If you are unsure of how to choose a validator, please see the FAQ section named ‘Selecting dYdX validators’ above this one to help you decide.&nbsp;</p><h2><strong>Maximizing Staked DYDX</strong></h2><p>Now that you have staked your DYDX, you have four options which can be used to change your position. These options appear on the&nbsp;<a href="https://wallet.keplr.app/chains/cosmos-hub">dYdX Staking Portal</a>. The options are:</p><h3><strong>Stake more&nbsp;</strong></h3><p>You can add to your current delegation by clicking on the validators name and staking more DYDX with them or any other validator.</p><h3><strong>Redelegate&nbsp;</strong></h3><p>Firstly, delegating from one validator to another can be done without waiting for the unbonding period. You might consider redelegating if your current validator raises their commission rate or gets jailed for misbehaviour on-chain. Once redelegated, you have to wait for 30 days before you are able to redelegate again.&nbsp;</p><h3><strong>Compound your rewards</strong></h3><p>Rewards are not auto-compounded. To get the most out of your tokens, you should consider claiming and staking your rewards more frequently, but consider that each transaction will cost you some gas. By using our&nbsp;<a href="https://www.stakingrewards.com/calculator/?asset=dydx">dYdX staking calculator</a>, you can calculate the optimal re-stake frequency for your amount of DYDX. Some tools, such as&nbsp;<a href="https://restake.app/">restake.app</a>, will enable you to pick a validator who will auto-compound your rewards for you, so keep this in mind.&nbsp;&nbsp;</p><h3><strong>Claim reward</strong></h3><p>The amount of accrued rewards will be available and shown in your dashboard. To receive your staking reward when it is credited, simply click Claim Reward on the wallet home screen.</p><h3><strong>Unbond</strong></h3><p>You can unstake your delegated DYDX immediately, but tokens will be available in your wallet only after the end of the period of unbonding, which lasts 30 days. If you want just to change the validator, then there is no need to unstake, since you will not receive rewards throughout the entire unbonding period — just use the Redelegate function. In this case, the unbonding period does not apply.</p><h2>Where to store DYDX?</h2><p>Looking for a crypto wallet? <a href="https://onelink.to/exodus-stakingreward">Exodus Wallet</a> has an intuitive interface, a built-in exchange feature and supports over 200+ assets. Manage your cryptocurrency portfolio securely and with ease using Exodus Wallet! Visit their website to <a href="https://onelink.to/exodus-stakingreward">learn more and download today</a>.</p><h2><strong>Conclusion</strong></h2><p>Staking is essential to Proof-of-Stake blockchains and comes with many benefits for investors and the network:</p><ul><li>Investors earn yield from token emissions and/or transaction fees.</li><li>Stakers become eligible for airdrops as many networks prioritize granting these benefits to them.</li><li>Staking helps to secure the network</li><li>Staking from multiple participants helps decentralize the network</li><li>Stakers can participate in governance, as many PoS networks allocate governance rights based on the amount of tokens staked.</li></ul><p>Congratulations! You are now not only getting the most out of your investment with compounded returns. YOU are also (in-)directly contributing to the decentralization, and the network security of dYdX and thus contributing to the long-term success of your investment! dYdX needs active stakers like you to become successful long-term.&nbsp;</p><p>Now share the tutorial with your friends so they can get to start staking as well!</p><p>Lastly, don’t forget to check out the&nbsp;<a href="https://www.stakingrewards.com/earn/dydx/">DYDX staking page</a> for more insights into staking DYDX and drop us a&nbsp;<a href="mailto:content@stakingrewards.com">message</a> if you found this tutorial useful. Happy staking!</p>

How to Stake DYDX

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