DYDX staking is not especially profitable and returns can be quite low on most centralized exchanges. However, if you hold dYdX token for a long term, there’s little reason not to take advantage of any staking yields you can get.
We did the research and found out which exchanges have highest APYs for staking dYdX. Here are our results!
| Exchange: | Flexible APY: |
|---|---|
| Binance | 0.07% |
| Bybit | 1.50% |
| CoinEx | (unclear APY) |
| KuCoin | 0.11% |
| MEXC | 0.80% |
| XT | 1.90% |
| Gate | 0.88% |
| HTX | 5.50% |
| BitMart | 2.00% |
| CoinW | 2.00% |
| Bitrue | 5.00% |
| OKX * | 16,67% |
* OKX’s on-chain staking is flexible but has a 30-36 day redemption period. We included it because of high yields.
Where to stake for best profits?
Currently, the top CEXs (centralized exchanges) for staking dYdX tokens are HTX and Bitrue. Both offer a similar yearly yield, at 5.5% and 5%, respectively.
Not much needs to be said about HTX. This is a reliable, top-tier exchange. HTX doesn’t often offer highest staking yields. but in this instance it’s providing the highest dYdX staking yield compared to all other CEXs.
Bitrue is overall the best exchange for staking a variety of assets, with APYs often being up to 20%. For $DYDX, Bitrue offers a more humble 5% APY (annual percentage yield), however this is still a higher return compared to other exchanges.
Is staking dYdX tokens profitable?
All exchanges listed here have flexible staking. This means you can withdraw or use your dYdX coins (including accumulated interest) at any time. There are no redemption delays, penalties or fees.
Because of flexible durations, DYDX staking on centralized exchanges comes with virtually no risk. Even day traders who aren’t holding DYDX for a long term can use staking to obtain extra profits.
The main downside of staking DYDX is the low percentage return. DYDX gives you significantly lower yields compared to many other coins and tokens on the market.
Nevertheless, if you are invested in dYdX exchange’s governance token and plan to hold for a longer period, there is no downside to getting additional returns through staking.
DYDX staking returns calculator
For a basic overview of potential DYDX staking rewards, you can use our handy tool:
DeFi vs. CEX staking
Staking DYDX on decentralized exchanges and various DeFi projects has a higher average APY compared to CEXs. However, staking on-chain can have many drawbacks: suspicious dApps, untested decentralized exchanges, rug pulls, scams, exposed wallet keys, and many other risks can be scary for those inexperienced with Web3 interactions.
Savings & Earn programs on CEXs do not have the same risks as staking on-chain. Most exchanges have insurance funds and other fund protections in place. This guarantees the safety of both invested funds and interest gained.
In addition, keeping DYDX on exchanges ensures your coins will always be available to trade or withdraw.
A few things to remember:
- Savings, staking or earn programs are usually not available in US, Canada, or UK. Check each exchange to ensure this is the case. Alternatively, you can use exchanges with optional KYC to bypass regional restrictions.
- Listed APYs are provided for comparison at publication time and may not indicate live returns. APY varies frequently due to variety of factors, and you should always check live rates on exchanges.
- Our APYs listed exclude temporary promotional rates, new user bonus yields, or other temporarily available rates. Yields displayed in the table are average and available to all customers,
DYDX staking is not going to make you rich, but it does come with guaranteed returns and almost no risk. You do not have to actively trade or deal with decentralized risks to earn free DYDX tokens. Staking dYdX is a safe way to increase the size of your holdings, so be sure to consider it.
