Stake your $DYDX Tokens with Provalidator — dYdX
Introduction:
In the past three years, dYdX has facilitated more than $11 billion in trading volume, involving perpetuals, margin, and spot trading, engaging with a diverse group of 64,000 traders. Additionally, dYdX has initiated borrowing and flash transactions exceeding $250 billion from its liquidity pools.
The dYdX Layer 2 protocol, having demonstrated industry-leading products and significant organic growth, is entering a new phase by transitioning control to the community through the introduction of the DYDX governance token.
DYDX empowers the community to govern the protocol, fostering shared control and aligning incentives among traders, liquidity providers, and partners. The token facilitates a comprehensive ecosystem involving governance, rewards, and staking, with the aim of promoting future growth and decentralization of the dYdX Layer 2 protocol. Additionally, the launch includes two staking pools to enhance liquidity and safety, along with rewards programs to incentivize trading, liquidity provision, and past usage, driving adoption of the dYdX Layer 2 protocol.
In this comprehensive guide, we will walk you through the straightforward process of delegating your DYDX tokens with Provalidator.
Follow these simple steps to embark on your journey to staking success.
Step-by-Step Staking Guide:
For this guide, we are using the Keplr wallet.
Step 1. Set-up a wallet and Fund your tokens
- Install Keplr Wallet: Download the Keplr Wallet extension and effortlessly access it within your browser.
- Create or Import: Click Create new wallet or Import an existing wallet.
- Secure Your Assets: Prioritize the security of your holdings by storing the recovery phrase and create a password.
- Deposit DYDX: Fund your tokens to the newly created address with DYDX.
Step 2. Access your Kelpr Dashboard
- Access the Keplr Dashboard by selecting “Manage Portfolio” within the Keplr extension’s interface.
Step 3. Delegate to Provalidator
- After entering the dashboard, locate to the Chains tab and click it.
2. Proceed the dYdX chain page, and locate and search for Provalidator in the Validator search and select it.
Tip : You can search by “Provalidator” or entering in the Validator Address : dydxvaloper1a9lm6t9qalz53jrp0q6p50q2cxeqnwsh48g3tt
(Blockexplorer link : DYDX Validator — Mintscan)
3. Input the preferred quantity of DYDX for staking and then proceed by selecting the Stake option.
4. After verifying that all details are accurate, confirm your transaction. Once the process is completed, your funds will be successfully delegated.
About Provalidator
Provalidator is a professional Proof-of-Stake blockchain validator and decentralized infrastructure provider. We offer enterprise-level validation services to more than 30+ blockchain networks, safeguarding over $250 million (as of December 2022) in digital assets through our robust infrastructure. Our team has been operating validator nodes since 2018 starting with the Cosmos Hub, and is currently one of the most prominent validators in the Cosmos ecosystem.
At the heart of our operations is validator service, which are specialized servers or nodes in a blockchain network tasked with proposing, authenticating transactions, and incorporating new blocks into the blockchain. Our dedicated team is on standby around the clock, ensuring swift responses to any validator node concerns. We’ve implemented multi-layered security and monitoring systems to safeguard our infrastructure and prioritize interests of our delegators.
Our mission is to support blockchain infrastructure.
Follow us for the latest updates and contact us for building partnerships.
Contact: business@provalidator.com
