Stride

USDC

Stride, a multichain liquid staking protocol, has proposed a collaboration with the dYdX community to stake 20 million DYDX tokens, equivalent to $67 million, from its community pool into Stride 2’s liquid staking protocol. The aim of the proposal is to enhance the economic security of the dYdX chain and redistribute stake weight among validators more equitably. 
According to <a href="https://dydx.forum/t/drc-dydx-community-staking-proposal/2444" target="_blank" rel="noreferrer noopener nofollow">the proposal</a>, the dYdX chain currently has 115 million DYDX tokens, valued at $388 million, staked, in contrast to a liquid supply exceeding 320 million DYDX tokens, worth over $1.08 billion. Despite an increase in deposits on the chain, there has been a stagnation in the staking of DYDX tokens.&nbsp; 
<h2 class="wp-block-heading" id="staking-mechanics-and-community-decision-process">Staking Mechanics and Community Decision Process</h2> 
The proposal emphasizes the importance of diversifying the community treasury to counter potential malicious activities as the community treasury and deposits grow. 
Stride’s proposal outlines that the dYdX community would only need to decide on the total amount to be staked, with Stride managing all other aspects, including validator selection, staking amounts, compounding rewards, and redelegations as necessary. 
The proposal also details the staking rewards mechanism within the <a href="https://www.cryptopolitan.com/dydx-community-towards-greater-inclusivity/" target="_blank" rel="noreferrer noopener">dYdX ecosystem</a>, where rewards are generated from user fees on trades and accrued in USDC stablecoins. Stride has an auto-compounding mechanism for rewards back into staked DYDX, which allows the community treasury to grow over time. Stride proposes reducing its protocol fee on the staked position from 10% to 7.5%, ensuring a larger portion of USDC inflows from staking rewards goes directly to the community treasury. 
The proposal was shared on the dYdX forum on March 15, with a signaling post scheduled for March 19, concluding on March 23. This initiative is set to foster discussion within the dYdX community regarding the staking collaboration with Stride.

Stride and dYdX community consider major staking collaboration to secure network

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