dYdX Releases Annual Ecosystem Report: Cumulative Trading Volume Exceeds $1.55 Trillion, Buyback Program Expanded to 75% of Net Income

Odaily News dYdX Foundation has released the 2025 dYdX Ecosystem Annual Report. The report shows that the cumulative trading volume on the dYdX ecosystem has surpassed $1.55 trillion. The fourth quarter of 2025 was the most active trading period for the year, with quarterly trading volume recovering from approximately $16 billion in Q2 to $34.3 billion in Q4.

The report covers protocol activity, development, governance, and ecosystem growth. Key developments include: dYdX expanded its distribution channels through integrations with institutional platforms such as CoinRoutes, CCXT, Foxify, and Crypto.com; launched Solana-native spot trading functionality; initiated the DYDX token buyback program, with governance approving an expansion of the buyback ratio to 75% of the protocol's net income; by year-end, the number of DYDX holders reached approximately 98,000. Furthermore, the report details treasury management, the restructuring of the grants program, and progress on infrastructure upgrades aimed at improving execution consistency.