Stride's first new LST of 2024, stDYDX, is now live** 🎉
Liquid stake your DYDX now:
https://app.stride.zone/
Say goodbye to the 30 day unbonding period of DYDX. Now, you can be fully liquid while still earning staking rewards.
Notably, stDYDX auto-converts USDC staking rewards to staked DYDX.
All staking rewards for DYDX are in USDC.
With stDYDX, every hour USDC staking rewards are IBC'd to Osmosis, swapped for DYDX, which is then IBC'd back to dYdX chain and staked.
So stDYDX has a built-in auto-compounder.
And also 150,000 STRD will be dropped to users who hold stDYDX over the next 120 days.
To be eligible, all you have to do is hold stDYDX.
There will be daily snapshots over the next 120 days.
At the end of the period, users will receive a share of the 150K STRD proportional to 1) how much stDYDX they held and 2) how many days they held it for.
Once the 120 day period is over, the STRD vests immediately.
