A Simple Guide to Staking DYDX with Stakecito

Learn how to stake DYDX with Stakecito and begin earning rewards on your crypto in our comprehensive guide.

Staking

Jun 25, 2024

0 min read

By

Winfred K. Mandela

dYdX Overview

The dYdX chain is an open-source application specific blockchain software that powers a decentralized perpetuals exchange. This standalone blockchain software is open-sourced by dYdX Trading Inc. (“dYdX”) and is based on the Cosmos SDK and CometBFT proof-of-stake consensus protocol. dYdX Chain is fully decentralized end-to-end, including its consensus mechanism, order-book, matching engine and front end.

Details on Staking with Stakecito

Validator Address: dydxvaloper1qe8uuf5x69c526h4nzxwv4ltftr73v7qvjutn2
Wallet: Keplr Wallet
Block Explorer: Mintscan
Unstaking Period: 21 Days
Stakecito Commission: 5%

How to Stake DYDX with Stakecito

1. Install the Keplr Wallet Extension

If you don't have the Keplr extension, visit the Keplr website and click on "Install extension". Choose the correct version for your browser (Chrome or Brave) and follow the setup instructions.

2. Create or Import an Account

Open the Keplr extension in your browser. If you don’t have a Keplr account, create one by following the prompts to generate a mnemonic seed (choose 24 words for enhanced security) and back it up securely. Remember, anyone with access to your mnemonic seed can access your funds, and a lost seed cannot be recovered.

3. Log Into Your Account

Once your account is set up, use the extension to view your address or navigate to Keplr Wallet Staking to access your full dashboard directly.

4. Stake Your DYDX

Fund your account with DYDX if it's not already funded. You can transfer them from an exchange or another wallet. To stake:

a) Search for and select the "dYdX" network.

b) Find "Stakecito" in the list of validators at the bottom of the page and click on it

c) Click 'Stake'.

e) Enter the amount you wish to stake and then click 'Stake' again.

f) Approve the staking transaction.

g) You have officially staked DYDX with Stakecito!

Claiming Rewards

Over time, you'll see DYDX rewards accumulate. To claim them, simply access the Keplr extension and follow the instructions to claim your rewards.

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About Stakecito Labs

At Stakecito Labs, we've honed our craft as validators. Our reputation as the third-largest validator by delegation count within the Cosmos ecosystem speaks to our unwavering dedication and the trust placed in us by over 270,000 delegators worldwide.

Our validation services are not just about maintaining blockchain networks though; we validate networks outside of Cosmos as well (NEAR, Aleph Zero, etc.).

Our core mission is centered on demystifying blockchain technology to ensure it's accessible for everyone, from newcomers to seasoned investors. To begin staking, visit our homepage.

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