DYDX (DYDX)
Unstake, re-delegate and withdraw your DYDX rewards in Kiln Dashboard
Last updated
Unstake, re-delegate and withdraw your DYDX rewards in Kiln Dashboard
Last updated
You can unstake DYDX by simply clicking "Unstake" on your stake. After that you will be able to connect your Fireblocks Vault and unstake your DYDX.
Please keep in mind that the unstaked DYDX becomes unbonding and you will need to wait for 30 days before you can use those DYDX again.
Re-delegating an DYDX stake can be useful when you wish to move your staked DYDX to a different validator without waiting for the 30 days unbonding period happening when unstaking.
This can be done by selecting "Re-delegate" for a DYDX stake on the dashboard and specifying a new validator.
You can withdraw your available DYDX rewards, by selecting "Withdraw rewards" on the dashboard. After that you will be able to connect your Fireblocks Vault and withdraw your DYDX rewards on a wallet
Limitations with some wallets
In some cases, you may not be able to directly move the DYDX-USDC rewards earned from your staking activities. To address this, you can bridge your available USDC balance from the dYdX chain to any Ethereum mainnet address directly from Kiln Dashboard.
Using the Noble Bridge
This bridging process leverages the Noble bridge, which is recommended by the dYdX Foundation and Circle.
The goal of this bridge is to bring your dYdX rewards in USDC on your ETH address so that you can use them for other purposes like depositing them on a centralized exchange to get some dYdX back redelegate them from kiln's dashboard.
Step-by-Step Bridging Process
From the Dashboard, under the DYDX section, click on the "Bridge to Ethereum" button above the stakes table.
A modal will appear and guide you through the following three steps:
Transfer USDC from dYdX to your wallet on the Noble chain.
Burn USDC on Noble via the Cross-Chain Transfer Protocol developed by Circle.
Mint USDC on the Ethereum mainnet to the address of your choice.
The goal of this bridge is to bring your dYdX rewards in USDC on another cosmos address here on Osmosis so that you can use them for other purposes like depositing them on a centralized exchange or a Swap on Osmosis to get some dYdX back redelegate them from kiln's dashboard.
Step-by-Step Bridging Process
From the Dashboard, under the DYDX section, click on the "Bridge to Osmosis" button above the stakes table.
Once you performed your bridge to ethereum or to a cosmos wallet like Kelpr or ForDeFi, you can reinvest the earned rewards back into DXDY token.
From your destination chain you can use any wallet to transfer the ETH-USDC, for example to an exchange or a marketmaker to purchase more DYDX and send them back to your dYdX address to stake them on Kiln's dashboard.
To save on fees you can leverage the bridge to osmosis feature to then perform a swap on osmosis. Then from osmosis asset page, find your DYDX token and click "withdraw".
Then edit your receipient address to the address you use to delegate in Kiln's dashboard, so that you will directly see the DYDX in your available balance and stake again one click.
