The dYdX (CRYPTO:DYDX) community has sanctioned the staking of 20 million DYDX tokens to fortify security measures as the decentralized exchange witnesses a surge in trading volume.
With 91.7% of votes in favor, tokens worth over $61 million are set to be staked using the Stride liquid staking protocol, responding to the growing activity on the platform.
This move aims to safeguard against control attacks, such as a potential 51% attack, by decentralizing voting power and ensuring network integrity.
Staking rewards, accrued in USD Coin (USDC), are derived from trading fees, with the mechanism allowing for automatic compounding over time.