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In the rapidly evolving world of cryptocurrency, managing your digital assets efficiently is crucial. Ledger Live, a user-friendly platform, offers a seamless experience for users to access & control.

We’re glad to announce that your Ledger Live app now supports the dYdX chain and DYDX token, which means you can now manage and stake your Cosmos-based tokens with your private keys tightly secured in your Ledger device.

Owen Simonin, Founder & CEO at Meria: “We are thrilled to play a key role in facilitating the connection between two major actors of our industry, Ledger and dYdX, by operating a validator that simplifies access to DYDX staking directly through Ledger Live.”

“Users want more security and self-custody choices without compromising on staking and trading options. The integration of dYdX Chain and Ledger allows users to earn staking rewards directly through the Ledger ecosystem, ensuring security for users and supporting the growth of the dYdX ecosystem” Charles d’Haussy, CEO dYdX Foundation.

Ledger Live is one of the first wallets to support DYDX and the protocol’s staking feature. Our staking validator, operated by Meria, has the lowest commission fees (5%). On top of that, staking your digital assets through the Ledger ecosystem brings the following benefits:

• Highly secure: Grow your assets while holding them within your Ledger device.

• Self-custody: Your private keys never leave the secure element within your Ledger device.

If you need help determining which type of staking is right for you, look at our comprehensive guide.

What is DYDX (dYdX)?

The introduction of the dYdX Chain and the dYdX community’s endorsement of DYDX as the primary Layer 1 (L1) token have significantly enhanced the DYDX token’s utility.The DYDX token now supports a variety of functions: it can be staked, contributing to the network’s security, plays a role in governance of the dYdX Chain, and enables DYDX stakers to earn staking rewards.

On the dYdX Chain, all fees collected by the protocol are distributed to Validators and Stakers. Trading on the dYdX Chain is gas-less (only maker and taker trading fees in USDC apply).

With the adoption of dYdX Chain DYDX as the L1 token, you can bridge your ethDYDX tokens using this bridging guide. After bridging the new utility functionalities come into effect.