The dYdX Foundation recently released a detailed overview of protocol activity from its November analyst call. This update covered governance developments, institutional integrations, network performance, program efficiency improvements, and the ongoing expansion into new markets. 💰 📈 🎉
Notably, in November, community members voted to increase buyback allocation from 25% to 75% of net trading fees, directing more funds toward buybacks and strengthening long-term value alignment for all participants. 💪
Since the relaunch of the Grants Program in August, the Foundation has implemented a more rigorous funding framework, resulting in approximately $2 million in annualized savings through contract revisions and resource optimization. These efficiencies allow resources to be directed towards strategic areas like infrastructure, research, and developer tooling. 🛠️
The Affiliate Program continued its strong performance, contributing $10 billion in cumulative referred trading volume. This program remains a key driver of market participation and global user acquisition. 🚀
Furthermore, the Foundation integrated dYdX markets with CCXT, providing improved access to institutional and programmatic trading platforms. This integration expands accessibility across various market sectors, strengthening dYdX’s position in the on-chain derivatives landscape. 🌐
Charles d’Haussy, CEO of the dYdX Foundation, commented on key accomplishments: “dYdX remains committed to transparency, operational efficiency, and a future-proofed ecosystem that fosters both growth and community alignment.”
The dYdX Foundation is an independent not-for-profit organization based in Zug, Switzerland. Its mission is to support the development of the dYdX protocol and facilitate its sustainable growth and community-driven governance.