dYdX Community Approves Allocating 75% of Fees to DYDX Buybacks
dYdX tokenholders approved a governance proposal on Nov. 13, 2025 to allocate 75% of protocol fees to buybacks of the DYDX token. The decision directs a large share of ongoing revenue toward repurchasing the native token, marking a clear shift in how the protocol converts operating fees into token-based value capture.
Why it matters: routing three quarters of fee revenue into buybacks can reduce sell pressure from protocol fee flows and provide direct market demand for DYDX, though the exact market impact will hinge on execution details (open-market purchases, treasury accumulation or burns). Traders, stakers and on-chain analysts will be watching revenue reports and the buyback cadence closely, since this policy could alter liquidity dynamics and long-term incentives for holders and contributors to the dYdX ecosystem.