dYdX is Buying Back Its Own Token, Because Who Needs Personal Growth, Anyway? π€
Oh joy, oh rapture! The dYdX community has decided to launch its first-ever DYDX Buyback Program, because who doesn’t love a good token buyback? π€ From this month on, 25% of the protocol’s net fees will be allocated to purchasing DYDX tokens from the market, because, you know, the market needs a good dose of dYdX’s love. π These tokens will then be staked, because who doesn’t love a good stake? π€£
How Protocol Revenue will be used
So, you’re wondering how all that sweet, sweet revenue will be allocated? Well, let me break it down for you:
- 10% β Treasury SubDAO (because someone has to pay for all the fancy financial initiatives)
- 25% β MegaVault (because who doesn’t love a good vault?)
- 25% β Buyback Program (because, as I said, who doesn’t love a good token buyback?)
- 40% β Staking Rewards (because who doesn’t love a good reward?)
And, because the community is all about making tough decisions, there’s already discussion about potentially increasing the buyback allocation to 100% in the future. Because, you know, who needs a balanced budget when you can just buy back your own token? π€
β dYdX (@dYdX) March 24, 2025
dYdX is stepping into a fresh chapter of growth, because who doesn’t love a good chapter? π The exchange is rolling out Spot Trading, Multi-Asset Margining, and EVM Support β upgrades crafted to streamline trading processes and draw in a larger user base. Because, you know, more users = more tokens to buy back! π€£
And, if you’re wondering, dYdX has seen some remarkable expansion in the last year, handling $270 billion in trades and earning $46 million in net protocol revenue throughout 2024. With its overall trading volume surpassing $1.46 trillion, the platform has firmly established itself as a leading force among decentralized exchanges. Yay, dYdX! π
By March 2025, about 85% of DYDX tokens will already be out in the market, so this buyback program comes at a smart time. With emissions cutting in half come June, the limited supply might make the token scarcer and increase its value down the road. Because, you know, scarcity = value. πΈ
A defining moment for dYdX came in 2023 when it shifted from Ethereum to its own Layer 1 blockchain. While 86% of tokens have successfully transitioned to the new network, about 14% linger on Ethereum as ethDYDX.Β Because, you know, who doesn’t love a good transition? π
The dYdX community is currently weighing a proposal to discontinue support for the Ethereum-based version of the platform by June 2025. If this move gets the green light, it might lead to the permanent removal of unbridged tokens from circulation. Because, you know, who needs unbridged tokens, anyway? π€·ββοΈ
Given that dYdX operates under community governance, the buyback program emerged as a result of shared decision-making among its members. There’s active debate right now about ramping up the buyback allocation, which would accelerate the reduction of token supply and bolster network security. Because, you know, who doesn’t love a good debate? π€
With robust support from its community and a well-established base, dYdX is working to solidify its standing in the market while setting the stage for sustained growth in the years ahead. Because, you know, growth is the new black. π
Read More
- UNLOCK ALL MINECRAFT LAUNCHER SKILLS
- REPO: How To Fix Client Timeout
- Unaware Atelier Master: New Trailer Reveals April 2025 Fantasy Adventure!
- 10 Characters You Wonβt Believe Are Coming Back in the Next God of War
- 8 Best Souls-Like Games With Co-op
- BTC PREDICTION. BTC cryptocurrency
- All Balatro Cheats (Developer Debug Menu)
- Minecraft Movie Meal Madness
- Unlock Wild Cookie Makeovers with Shroomie Shenanigans Event Guide in Cookie Run: Kingdom!
- Top 8 UFC 5 Perks Every Fighter Should Use
2025-03-24 19:34