dYdX Chain Adds Liquid Staking Feature

The latest release of dYdX Chain, version 3.0, has now implemented support for liquid staking on the Cosmos-based network.

This upgrade introduces interchain accounts, making it possible for liquid staking protocols to participate on the network.

By allowing users to stake and secure the dYdX Chain while simultaneously converting their staked DYDX into a liquid asset, they are able to trade or use it in DeFi applications.

Multiple liquid staking providers, including Stride, Persistence, and Quicksilver, are competing to offer this service to dYdX stakers.

According to Stride co-founder Vishal Talashi, this partnership will bring the full potential of dYdX’s infrastructure to DeFi protocols.

dYdX Foundation CEO Charles d’Haussy commented that the competition in the liquid staking ecosystem will drive innovation and benefit the community as a whole.