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dYdX jumps 8% after introducing token buyback program to bolster network security – TON BOT

dYdX jumps 8% after introducing token buyback program to bolster network security

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Decentralized trading exchange dYdX launched a token buyback program to improve network security and enhance token utility. The program will allocate 25% of monthly fees to buy DYDX tokens from the open market, with potential for expansion. This move aligns with other DeFi projects like Aave and Jupiter. DYDX token price rose by 8%, but remains significantly below its all-time high. The revenue distribution model has been revamped, with staking rewards claiming 40% of earnings. DYDX recently transitioned to its custom blockchain, with most tokens now on dYdX Chain. Users are urged to migrate ethDYDX tokens before the Ethereum bridge may be discontinued in June 2025.

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