dYdX Community Greenlights Major Boost to Buyback Program
Proposal #313, approved by the dYdX community on Nov. 13, raises the protocol’s buyback allocation from 25% to 75% of net revenue and creates two new set-asides: 5% to a Treasury SubDAO and 5% to the MegaVault. The decision concentrates a substantially larger share of revenue on DYDX repurchases, while explicitly reserving a small portion for broader treasury operations and long-term MegaVault commitments.
The move matters because heavier buybacks can act as a supply sink and may provide price support for DYDX, signaling a governance preference for direct token support. It also underscores active tokenholder control over economic policy, though critics may note reduced flexibility for other spending. Overall, the change reshapes how protocol revenue is deployed and will be watched closely for its market and governance effects.