dYdX Launches First Buyback Program

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 initiative aims to 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.
>
> — dYdX (@dYdX) March 24, 2025

This is not investment advice.