Crypto.com has introduced on-chain staking for $DYDX within its app. It allows users to engage directly with the dYdX Chain. This move aims to enhance user participation in decentralized finance (DeFi). It will enable them to stake $DYDX tokens and earn rewards of up to 12%.
$DYDX is now available for on-chain Staking in the Crypto․com App!
Start staking to secure your favourite blockchain while earning up to 12% rewards đź’°
🔓 Enjoy the flexibility of unstaking your assets in a secure and convenient manner.@dYdX pic.twitter.com/yUPr9n55mN
— Crypto.com (@cryptocom) July 15, 2024
Protocol Fees Directly Benefit $DYDX Stakers on dYdX Chain
In particular, dYdX Chain is also well-known as one of the most popular decentralized exchange platforms focusing on perpetual contracts. It runs on a decentralized process under the principle of community governed, which is well managed by the community. The most important feature of the platform is protocol fees which are generated on the platform are directly distributed to $DYDX stakers, providing them with a cut from the company’s revenues.
Crypto.com is the leading digital currency trading platform, which offers a range of services that includes purchasing, selling, and employing various cryptocurrencies. These crypto currencies also include BTC and CRO.
Crypto.com Promotes DeFi Participation with $DYDX Staking Options
Crypto.com users not only stake $DYDX but also can have an opportunity to efficiently manage all the staked assets through the app. Crypto.com provides chance for users to participate in the security and development of the dYdX Chain and receive rewards depending on the amount of staked tokens.
Similarly, this effort is part of a larger strategic plan to foster decentralized finance and enable users to engage more actively across the emerging DeFi landscape.