#Switzerland #Zug #dYdX Foundation #DYDX buyback #CCXT integration

dYdX's November Analyst Call: Key Updates

On November 19, 2025, the dYdX Foundation conducted its Monthly Analyst Call, shedding light on various aspects of the protocol's performance and governance. The session aimed to provide analysts, tokenholders, and ecosystem partners with structured updates on how the protocol is evolving.

Buyback Allocation Boosted

One of the most notable decisions made during the call was the community's overwhelming support for increasing the protocol's buyback allocation from 25% to 75% of net trading fees. This progressive change, facilitated through on-chain governance, reaffirms the community’s commitment to strengthening long-term value for all network participants, significantly enhancing the protocol's financial health.

Impressive Trading Volume

Over the past month, dYdX recorded an impressive $9.3 billion in trading volume. The robust activity was underpinned by both discretionary and systematic traders, displaying strong market participation. Furthermore, the protocol demonstrated substantial network security, with approximately 246 million DYDX tokens staked—amounting to roughly 30% of its circulating supply.

Operational Enhancements

Operational efficiency remains a core focus for the dYdX Foundation. Since the relaunch of the Grants Program in August, a new, more rigorous funding framework has been implemented. This has led to estimated annualized savings of around $2 million due to contract revisions and consolidated evaluations. Such initiatives ensure that resources are allocated to critical areas, including infrastructure development, research, and tools for developers.

Affiliate Program Success

The successful performance of the Affiliate Program has also been a highlight, contributing an impressive $10 billion in cumulative referred trading volume. This channel plays a vital role in fostering market participation and driving global user acquisition, crucial for dYdX's ongoing expansion within the competitive crypto landscape.

Integration with CCXT

Recent developments also included a significant integration with CCXT, a well-known infrastructure library that supports numerous trading systems and market-making strategies. This integration significantly enhances the accessibility of dYdX markets for institutional and programmatic traders, solidifying dYdX’s position in the on-chain derivatives space.

Commitment to Transparency

Charles d'Haussy, CEO of dYdX Foundation, emphasized that their commitment to transparency and operational efficiency remains steadfast. The updates shared during the November call reflect healthy network activity and substantial progress across governance, grant allocations, and partnerships with institutional players.

About the dYdX Foundation

The dYdX Foundation operates as an independent not-for-profit organization based in Zug, Switzerland. Its primary mission is to support the ongoing and future implementations of the dYdX protocol while fostering community-driven governance and growth across the ecosystem.

In conclusion, the November Analyst Call highlighted the directional progress dYdX is making, particularly regarding its commitment to increasing buyback allocations, operational efficiency, and institutional integration, positioning the protocol for future success in the booming decentralized finance space.