News/dYdX Chain Introduced Interchain Accounts, Enabling Liquid Staking

dYdX Chain Introduced Interchain Accounts, Enabling Liquid Staking

Jan 30,2024,10:47

Reported by The Block, dYdX Chain was upgraded to its v3.0 version today. The upgrade introduced interchain accounts, enabling support for liquid staking protocols to join the Cosmos-based network.

This move allows users to continue to stake and secure the dYdX Chain, while converting staked DYDX into a liquid asset that can be traded or utilized in DeFi applications

Liquid staking protocols are competing to onboard the dYdX stakers to liquid staking. Cosmos-based Stride plans to open up dYdX’s liquid staking today. Two other liquid staking providers, Persistence and Quicksilver, also aim to offer the service in the near future.

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