en.bitcoinsistemi.com
One of the popular altcoins, dYdX ($DYDX), has announced the launch of its first $DYDX buyback program.
According to the statement, starting today, 25% of dYdX net protocol fees will be used to buy back $DYDX tokens from the open market each month.
This will strengthen the long-term commitment to the ecosystem.
“The dYdX Community is launching the first $DYDX Buyback Program to consolidate long-term trust in the token and strengthen its role in the ecosystem. Starting today, 25% of net protocol fees will be allocated to monthly buybacks, systematically acquiring $DYDX from the open market, and staking to enhance network security.”
Following the news, the $DYDX price rose.
The first-ever $DYDX Buyback Program is here 🚨
Starting today, 25% of dYdX net protocol fees will be used to buy back $DYDX tokens from the open market every month—reinforcing long-term commitment to the ecosystem.
More products. More growth. More value. pic.twitter.com/1XsD1uyb34
— dYdX (@dYdX) March 24, 2025
*This is not investment advice.