The dYdX Decentralized Exchange (DEX) community has agreed to stake around $60 million worth of native tokens as a security measure. In a move to enhance security, dYdX users have voted to stake 20 million dYdX Chain tokens with Cosmos staking provider Stride.

The decision to stake the tokens, valued at $60 million based on the current market price of $3.06 per token, was confirmed by dYdX founder Antonio Juliano. This decision comes at a time when dYdX has seen a surge in trading activity and is restructuring its operations by establishing a legal entity in the Cayman Islands.

Despite concerns from some community members about the potential impact on the token's attractiveness, the proposal to stake dYdX tokens received overwhelming support with 91.7% of votes in favor out of an 81% participation rate. The aim of the staking initiative is to safeguard the network from control attacks by requiring a significant amount of tokens to be staked in order to manipulate the system.

Staking the dYdX tokens will earn rewards in US dollar-pegged stablecoins, which will be compounded into more dYdX tokens over time. This strategy aims to create a positive feedback loop for stakers and ensure the security and integrity of the dYdX protocol in the face of potential threats.