dYdX is a leading decentralized exchange that currently supports perpetual trading. It is a permissionless Cosmos SDK blockchain, governed by the DYDX token.
The dYdX community voted in favor of launching the first-ever DYDX buyback program, reinforcing its long-term commitment to strengthen the DYDX token’s alignment with platform’s long-term growth and network security. Starting March 24, 2025, 25% of net protocol fees will be used to purchase DYDX from the open market every month, with active governance discussions considering an increase up to 100% over time. This initiative strengthens DYDX’s tokenomics by reducing circulating supply and aligning token holders with dYdX’s continued growth. With over $270B in trading volume in 2024 and a rapidly expanding ecosystem, the buyback program marks a major milestone in dYdX’s evolution as the leading decentralized trading platform.