One of the popular altcoins, dYdX (DYDX), has announced the launch of its first DYDX buyback program.
According to the statement, starting today, 25% of dYdX net protocol fees will be used to buy back DYDX tokens from the open market each month.
This will strengthen the long-term commitment to the ecosystem.
“The dYdX Community is launching the first DYDX Buyback Program to consolidate long-term trust in the token and strengthen its role in the ecosystem. Starting today, 25% of net protocol fees will be allocated to monthly buybacks, systematically acquiring DYDX from the open market, and staking to enhance network security.”
Following the news, the DYDX price rose.
The first-ever $DYDX Buyback Program is here 🚨
Starting today, 25% of dYdX net protocol fees will be used to buy back DYDX tokens from the open market every month—reinforcing long-term commitment to the ecosystem.
More products. More growth. More value. pic.twitter.com/1XsD1uyb34
— dYdX (@dYdX) March 24, 2025
*This is not investment advice.
