Anchorage Digital Powers Institutional Staking in the dYdX Ecosystem

Anchorage Digital, a leading institutional crypto platform, announces support for native DYDX staking, enabling institutions to earn staking rewards while holding their DYDX tokens in safe and secure custody. This partnership marks a major step forward in advancing institutional participation in the dYdX ecosystem, the world's leading DeFi protocol focused on perpetual futures.

Anchorage Digital Unveils Native DYDX Staking Support, Unlocking Institutional Engagement in the dYdX Ecosystem

Zug, Switzerland, May 15th, 2024 - Anchorage Digital, the leading institutional crypto platform, has announced the launch of native DYDX staking support, empowering institutions to unlock the earning potential of the dYdX ecosystem. This strategic partnership marks a significant milestone in institutional adoption and decentralized finance (DeFi) integration.

Anchorage Digital, renowned for its secure and compliant crypto custody and staking services, provides institutional clients with a comprehensive solution for navigating the complexities of digital asset investments. As the exclusive provider of custody services for ethDYDX since its inception and native DYDX since the dYdX Chain's launch, Anchorage Digital's expansion into staking support marks a natural progression in its commitment to institutional participation in the dYdX ecosystem.

"For many institutions, custody is just the beginning," said Nathan McCauley, CEO and Co-Founder of Anchorage Digital. " zunehmend, institutions seek to engage in staking, earn rewards, and contribute to the long-term growth of innovative networks like dYdX. By adding staking support for its native token, DYDX, Anchorage Digital is proud to be a catalyst in unlocking a new era of institutional participation in the dYdX ecosystem."

Anchorage Digital's institutional-grade platform safeguards hundreds of top assets, undergoing rigorous quality and safety assessments to ensure the highest standards. Clients can seamlessly stake DYDX to earn staking rewards, with both the underlying assets (DYDX tokens) and rewards (USDC tokens) securely held in Anchorage Digital's custody solution.

"Anchorage Digital's integration of native DYDX staking opens a new chapter in institutional engagement with dYdX," said Charles d'Haussy, CEO of dYdX Foundation. "Staking extends beyond the accumulation of USDC rewards; it actively contributes to the growth and sustainability of the dYdX ecosystem. This collaboration provides best-in-class custody solutions, further enhancing the appeal of our protocol."

The dYdX Chain, a decentralized and community-governed protocol, has emerged as the world leader in perpetual futures trading. It distributes 100% of protocol fees to DYDX stakers, incentivizing their participation in securing the network. Since its launch six months ago, the dYdX Chain has generated over $136 billion in cumulative trading volume, distributing over $23 million in USDC rewards to approximately 20,000 stakers. As of May 13, 2024, the annual return rate stands at an impressive 18%, according to Mintscan.

Anchorage Digital's institutional-grade staking support for native DYDX enhances the accessibility and appeal of the dYdX ecosystem to institutional investors. This partnership fosters compliant staking solutions for DYDX token holders, encouraging institutional adoption and driving the ecosystem's growth.

About Anchorage Digital

Anchorage Digital is a crypto platform that empowers institutions to participate in the digital asset economy through secure custody, staking, trading, governance, settlement, and an industry-leading security infrastructure. Anchorage Digital is home to Anchorage Digital Bank N.A., the first federally chartered crypto bank in the United States. The company also serves institutions through Anchorage Digital Singapore, Porto by Anchorage Digital, and other offerings. Anchorage Digital has secured funding from renowned institutions, including Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa, with its Series D valuation exceeding $3 billion. Founded in 2017 in San Francisco, California, Anchorage Digital has offices in New York, New York; Porto, Portugal; Singapore; and Sioux Falls, South Dakota. To learn more, visit anchorage.com, follow @Anchorage on Twitter, and connect on LinkedIn.

About the dYdX Foundation

The dYdX Foundation's mission is to foster the growth and sustainability of the dYdX protocol ecosystem by empowering communities, developers, and decentralized governance.

The open-source software of the dYdX Chain is available for use or implementation by any party in accordance with the applicable license. The dYdX Chain and its software are not to be considered products or services provided by the dYdX Foundation. Interactions with the dYdX Chain software or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users interacting with the dYdX Chain software (or any implementations thereof) do not engage with the dYdX Foundation in any way.

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