“Stake your DYDX tokens with Anchorage Digital”

Anchorage Digital, a leading institutional crypto platform, has recently announced its support for native DYDX staking. This development allows institutions to stake DYDX directly from their secure custody at Anchorage Digital and earn staking rewards distributed in USD Coin (USDC).

As the home of the only federally chartered digital asset bank, Anchorage Digital offers a variety of crypto services, including custody and staking. The platform has been a preferred partner for crypto innovators, supporting ethDYDX custody since its mainnet launch in 2021 and native DYDX custody since the dYdX Chain’s launch in Q4 of the same year.

With the expansion of staking support, Anchorage Digital is taking a significant step towards facilitating safe and secure institutional involvement in the dYdX ecosystem. Nathan McCauley, CEO and Co-Founder of Anchorage Digital, expressed his excitement about this development, highlighting the potential for institutional participation in the dYdX ecosystem.

Clients using Anchorage Digital can now easily stake DYDX to earn rewards, with both the DYDX tokens and staking rewards securely held in custody on the platform. This integration of native DYDX staking by Anchorage Digital marks a new era of institutional engagement with dYdX, as stated by Charles d’Haussy, CEO of dYdX Foundation.

The dYdX Chain, a leading decentralized finance protocol focusing on perpetual futures, is entirely decentralized and community-governed. Anchorage Digital’s integration of staking support for native DYDX enhances institutional interest in the protocol by providing secure and regulated custodial services. This partnership offers a compliant staking solution for DYDX token holders, driving institutional adoption and contributing to the growth of the ecosystem.

spot_img

More from this stream

Recomended

AI Sign Language Startup ELdeS from Uruguay Joins EU Accelerator

Founded by Martín and Fabián Curzio, ELdeS aims to streamline its European expansion through this innovative acceleration format. The program matches...

UPS renews agreement for renewable natural gas with Hexagon Agility

Medium- and heavy-duty trucks in UPS’s fleet will continue to use renewable natural gas (RNG) after the package delivery company signed a three-year extension on its supply contract with...

‘Dr. Pat Cassidy Discusses Net32 in Dentistry’

[embedded content] Dentistry Today’s editor-in-chief, Dr. Paul Feuerstein and Dr. Pat Cassidy, Co-Founder and Chief Dental Officer of Net32, discuss the crucial role of personal patient...

New president appointed at O’Connor Connective

O’Connor Connective, a strategic communications and consulting firm for companies and nonprofits, announces Nina Nolan Rouse as the organization’s president, effective July 8. This will allow founder...

‘Rebrand Shifts Focus to STOP THE TRAFFIK’s Prevention Mission’

STOP THE TRAFFIK, the global charity dedicated to bringing an end to human trafficking worldwide, is unveiling its new brand identity, designed by Fold7 Design. The organisation has succeeded in...

New Flight Route from Dublin to Denver Commences Today

Aer Lingus launched its new non-stop route between Dublin and Denver today, May 17. The inaugural service took flight from Dublin at 3:30 pm on Friday, with the new route operating four times weekly...