The DYDX community has passed a governance vote to redirect most protocol revenue toward buying back DYDX tokens. Starting on Nov. 13, 2025, 75% of fees will fund open-market repurchases, up from the 25% set earlier in 2025.
Based on a report from Nethermind Research posted on the dYdX governance forum, the move aims to create buying pressure and address token price weakness. Nethermind, which received a grant from dYdX to analyze incentives, pointed to MegaVault’s poor performance—delivering negative 16.7% annualized returns without incentives—as a reason to reallocate funds.
“At present prices, the protocol could repurchase up to 5% of total supply annually. Historical analysis of DeFi protocols buyback announcements shows market-positive reception, with tokens outperforming 13.9% on average post-announcement,” Nethermind Research argued. “Tripling buyback allocation from 25% to 75% would strengthen tokenomics while signaling confidence to the market.”
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