The post DYDX price soars 7% amid monthly buyback program debut appeared on BitcoinEthereumNews.com.

With 85% of DYDX tokens already unlocked, dYdX is rolling out a buyback program to pump value back into the ecosystem. The team behind the decentralized exchange dYdX just kicked off its first-ever DYDX (DYDX) buyback, aiming to boost confidence in the token. Starting Monday, 25% of net protocol fees will go toward monthly buybacks — buying DYDX from the open market and staking it to help secure the network, according to a March 24 blog announcement from the company. Until now, all of dYdX’s protocol revenue went straight to ecosystem participants. But with the new buyback program, things are being split up a bit differently: 10% – Treasury SubDAO for financial sustainability initiatives. 25% – MegaVault. 25% – Buyback Program. 40% – Staking Rewards. According to the dYdX team, the setup ensures that protocol revenue is “strategically reinvested into the ecosystem, strengthening network security, governance, and long-term sustainability.” While the initial allocation dedicates 25% of net protocol fees to buybacks, ongoing community discussions are exploring the possibility of increasing the percentage up to 100% over time. Buyback amid reorganization Founded in 2017 by Antonio Juliano, dYdX is a decentralized exchange that lets users trade crypto, margin trade, and lend — all without needing a middleman. The buyback plan comes at a time of big shifts for dYdX. Back in October, the exchange saw several team members, including core team members, leave. CEO Antonio Juliano announced layoffs affecting 35% of the core team as part of a major restructuring. In a blog post, Juliano explained that the company needed to evolve as “the company we’ve built is different from the company dYdX must be.” “The decision to let go was a realization that the company we’ve built is different from the company dYdX must be. We will move forward with…

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Filed under: News - @ March 24, 2025 11:26 pm