The dYdX Foundation announced the completion of the first phase of the DYDX token buyback program. A total of 2.86 million tokens have been bought back amounting to $1.87 million since the program's inception.
Overview of the Buyback Program
The buyback program was initiated on March 24, 2025, aimed at using 25% of net transaction fees generated by the protocol to repurchase DYDX tokens each month. This initiative was proposed and approved by the community through votes on proposals #225 and #231, implemented by the Treasury SubDAO, a subsidiary of dYdX Treasury.
Future Actions and Plans
An additional 593,570 DYDX tokens are slated for acquisition in the next buyback round, which will be utilized for staking purposes. The tokens purchased under this program will be staked to bolster network security.
Economic Indicators of the Program
To date, the dYdX ecosystem has generated a total of $5.05 million in protocol fees, with 25% allocated for buybacks. So far, 1.25 million DYDX tokens have been staked from these buybacks, increasing the total staked DYDX across the network to 295.39 million. The program offers an estimated annualized yield (APY) of DYDX tokens at 3.08%.
The DYDX token buyback program aims to strengthen the network while providing potentially stable yields for token holders. Future plans by the foundation continue to support the dYdX ecosystem.