dYdX Chain Introduced Interchain Accounts, Enabling Liquid Staking

Reported by The Block, dYdX Chain was upgraded to its v3.0 version today. The upgrade introduced interchain accounts, enabling support for liquid staking protocols to join the Cosmos-based network.

This move allows users to continue to stake and secure the dYdX Chain, while converting staked DYDX into a liquid asset that can be traded or utilized in DeFi applications

Liquid staking protocols are competing to onboard the dYdX stakers to liquid staking. Cosmos-based Stride plans to open up dYdX’s liquid staking today. Two other liquid staking providers, Persistence and Quicksilver, also aim to offer the service in the near future.