Overlooked in October’s Perp DEX wars, dYdX just surprised the market after its governance process approved a sweeping update to its tokenomics framework and allocated 75% of all protocol revenue to open market DYDX token buybacks.
The proposal, numbered #313, was passed by 59.38% of community voters on Thursday, marking one of the most aggressive revenue-to-repurchase ratios of any major decentralized protocol.
Previously, only 25% of net protocol fees were allocated to DYDX buybacks, with the remainder dedicated to operational and financial functions. Therefore, the new move can be seen as tripling the buying pressure on the price.
New DYDX virtual currency buyback announced: Tokenomic buying pressure triples
According to the dYdX Foundation, under the newly passed framework, the protocol will direct three-quarters of its fee income to DYDX purchases and staking, with 5% going to the Treasury SubDAO and 5% going to MegaVault.
“Starting today, 75% of protocol fees will be used to buy back DYDX on the open market,” the foundation confirmed to X.
The community voted to increase $DYDX Stock buybacks increased from 25% to 75%.
Starting today, 75% of protocol fees will be used to buy back DYDX on the open market 🫡
🔗 https://t.co/SOmcd9Edlo pic.twitter.com/CgM7hJN57Q
— dYdX (@dYdX) November 13, 2025
The new buyback policy comes into effect immediately and represents a significant reduction in the circulating supply of the token, which could immediately put the DYDX price on an upward trajectory.
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Share buyback announcement is the latest in a series of moves for dYdX ahead of its U.S. debut
This latest vote continues a series of tokenomics improvements launched earlier this year. dYdX first launched its buyout mechanism in March 2025, in line with its transition to v4 mainnet and emissions reduction plans by June 2025.
The updated buyback allocation forms part of a broader strategy to enhance value capture, staking yields and governance participation, directly tying token holder incentives to platform performance.
And this move, which shows momentum, follows dYdX’s rapid growth across its Cosmos-based standalone chain, recently surpassing $1.5 trillion in cumulative trading volume.
This comes as the exchange prepares for its U.S. market debut later this year and continues its campaign to eliminate maker and taker fees on some perpetual pairs to increase liquidity.
With the buyback ratio tripled, investors’ attention is now on DYDX’s on-chain burn rate, staking returns, and whether tight supply will accelerate the token’s price appreciation in the coming weeks.
DYDX Price Analysis: DYDX Price Crisis Surgery – Can Repurchase Pressure Correct the Chart?
The approval of the share buyback proposal comes at a painful time for the DYDX price chart, which is currently bottoming out after months of volatile downward price action.
(Source – 1W, DYDXUSDT, TradingView)
Currently trading at -77% year-to-date, the buyback program has boosted investor appetite and raised hopes for a reversal, especially as the price remains centered around the key support above $0.25 (a level it has held since October 10th), causing the price to plummet to an all-time low of $0.05.
However, with the tokenomic fundamentals of DYDX turning bullish, the price trend may grab the support line above the 20DMA on November 7th, and the situation for the re-emerging DEX coin may improve.
(Source – 1D, DYDXUSDT, TradingView)
This could set the stage for a hard bounce, possibly leading to a reversal, if price action breaks out (above $0.50) of the descendant pendant pattern it has maintained over the past year.
Such a view seems cautiously possible, given that the RSI indicator has still cooled down to a strong bullish signal of 45, suggesting significant upside room remains on the chart, with $0.50 being the immediate target for DYDX bulls.
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