Dydx, the token of the decentralized derivatives Exchange Dydx, increased almost 7% to $ 0.72 after the platform introduced a repurchase program, dedicating 25% of its monthly protocol fees to the purchase tokens in the open market.
The measure is part of a broader effort to reinforce the role of the token in the economic and safety model of the network in the middle of a prolonged bearish trend for Dydx, which has lost more than 78% of its value in the last 12 months.
The repurchases mark a change in how DYDX assigns their income for the protocol, with 40% that goes to Stakers, 25% for the new program, 25% to its Megavault and 10% of the Treasury initiatives.
The exchange reported $ 46 million in net income of the protocol in 2024 of more than $ 270 billion in negotiation volume, according to a press release. Governance discussions are already exploring the possibility of increasing repurchase to 100% of protocol rates.
Tokens bought as part of the program are ready for “a prolonged period of time to improve network security,” said a DyDX representative to Coindesk.
The token supply dynamics is also changing, with emissions that will decrease by half from June. Most DyDX tokens have already been unlocked, and the rest is granted in mid -2026, according to the press release.
A pending proposal can also eliminate Ethereum -based Dydx tokens without circulation bronze if it is not transferred to the Dydx 1 layer in June.
