📣Crypto enthusiasts, listen up! The dYdX community is taking a big step forward for security! 🛡️ They've approved a proposal to stake a whopping 20 million DYDX tokens. This move comes as the platform experiences a surge in trading activity. 📈

dYdX is all about enhancing its security measures, especially with increasing deposits and trading volumes. Currently, it has a total value locked (TVL) of around $140 million on the dYdX Chain. Over 114 million DYDX tokens are staked, valued at roughly $456 million. 💰

Despite this, the rate of DYDX staking has plateaued. But don't worry, dYdX has a plan! They're looking to decentralize voting power and increase network resilience against security threats. 🚀

On April 6, the proposal to stake tokens from dYdX’s community treasury was approved with a 91.7% majority. This decision allows the use of Stride 6’s liquid staking protocol to stake the treasury more efficiently. 🎉

The community will maintain control of the funds, while Stride will handle productive capital deployment. Staking rewards, generated from trading fees on the dYdX protocol, will be automatically reinvested over time. 💸

So, let's hear it for the dYdX community, taking strides towards enhanced security and efficient staking! 🙌🎉