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Anchorage Digital, an institutional crypto platform, has announced its endorsement for native DYDX staking. Currently, institutions have the ability to deposit DYDX into secure custody at Anchorage Digital and get staking incentives in USDC from the protocol.
<a href="https://www.anchorage.com" rel="noopener noreferrer nofollow" target="_blank">Anchorage Digital </a>is a crypto platform that allows institutions to invest in digital assets by providing services such as custody, staking, trading, governance, settlement, and top-notch security infrastructure.
<h2 id="span-style-font-weight-400-anchorage-digital-moves-in-on-native-dydx-staking-span">Anchorage Digital moves in on native DYDX staking</h2>
Anchorage Digital is the home of the only federally authorized digital asset bank and offers some of the biggest names in traditional and decentralized finance crypto custody, staking, and other services.
Anchorage Digital has backed native DYDX custody since the dYdX Chain launched in Q4 of last year and ethDYDX custody since the mainnet debut in August 2021.&nbsp;
<blockquote>
 For many institutions, custody is just the start. Increasingly, institutions want to engage in staking, earn rewards, and contribute to the long-term scaling of innovative networks like dYdX. By adding staking support for its native token, DYDX, Anchorage Digital is proud to help unlock a new era of institutional participation in the dYdX ecosystem.
 Nathan McCauley, CEO and Co-Founder of Anchorage Digital
</blockquote>
Anchorage Digital offers support for a wide range of assets, carefully chosen to meet the high standards of institutional demand and ensure quality and safety. Customers have the opportunity to stake DYDX and receive staking rewards, as both the DYDX tokens and USDC tokens earned are securely held in custody on the Anchorage Digital platform.
<blockquote>
 Anchorage Digital’s integration of native DYDX staking initiates a new era of institutional engagement with dYdX. Staking involves more than just the accumulation of USDC rewards; it is a proactive effort to enhance the growth and sustainability of the dYdX ecosystem. This collaboration provides best in class custody solutions and boosts the attractiveness of the protocol.
 Charles d’Haussy, CEO of dYdX Foundation
</blockquote>
The dYdX Chain is the leading DeFi system that specializes in perpetual futures. It operates in a fully decentralized manner and is regulated by the community. The protocol fees are distributed in their whole to DYDX stakers in order to enhance the security of the dYdX Chain.&nbsp;
According to Mintscan, the dYdX Chain has achieved a total trading volume of over $136 billion and has distributed more over $23 million in USDC as staking rewards to nearly 20,000 stakers since its introduction six months ago. As of May 13, 2024, the current annual return rate stands at 18%.&nbsp;
Anchorage’s inclusion of staking support for native DYDX strengthens institutional interest by leveraging Anchorage’s secure and regulated custodial services. This collaboration offers a regulatory-compliant staking solution for individuals who own DYDX tokens. Additionally, it promotes the adoption of DYDX tokens by institutional investors, thereby helping to the overall expansion of the ecosystem.
<h2 id="span-style-font-weight-400-the-companies-partnership-span">The companies partnership</h2>
The primary objective of the dYdX Foundation is to foster and expand the dYdX protocol ecosystem by facilitating the participation of communities, developers, and decentralized governance.
The dYdX Chain software is open-source and can be used or integrated by any entity in compliance with the relevant license. Per its development, the dYdX Chain and its software should never be considered as a product or service offered or given by the dYdX Foundation in any manner.
The entity advises that engaging with the dYdX Chain software or any related implementation is unrestricted and free from intermediaries, but must adhere to the restrictions of the relevant licenses and code.
On the other hand, Anchorage Digital supports institutions through Anchorage Digital Singapore, Porto by Anchorage Digital, and other solutions. Anchorage Digital Bank N.A. is the only federally chartered crypto bank in the United States.&nbsp;
Leading investors like Andreessen Horowitz, GIC, Goldman Sachs, KKR, and Visa have contributed to the company’s above $3 billion Series D valuation. The entity, which was founded in 2017 in San Francisco, California, also maintains offices in Singapore, Sioux Falls, South Dakota, New York, and Portugal.&nbsp;
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Anchorage Digital announces support for native DYDX staking

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