Rewards Conversion Tool

Staking lets users lock their tokens to provide economic security for a blockchain. In return, stakers receive a reward from the protocol. Typically, that reward is paid out in the same token that was staked (the protocol’s native token). Users can claim rewards and immediately stake those tokens to further build their stake and accumulate even more rewards.

The dYdX Chain will reward stakers with fees collected from trading activity, which are paid in USDC. Users will stake DYDX and receive USDC rewards. We would like to replicate the experience described above by building a tool that lets users periodically claim their USDC rewards, swap the USDC to DYDX, and then stake that DYDX back to the protocol. This will allow users to seamlessly increase their staked DYDX, earning more rewards as their position grows. Users should be able to switch this option on and off based on their preferences.

‍