Surprise Altcoin Developers Announce Completion of Token Buyback Program

The dYdX Foundation announced that it has repurchased a total of 2.86 million DYDX tokens to date as part of the buyback program it launched in March, with a total value of $1.87 million. As part of the program, an additional 593,570 DYDX will be acquired in the next buyback round, and all of these tokens will be used for staking purposes. As you may recall, dYdX announced on March 24, 2025, that it would use 25% of the net transaction fees generated by the protocol to repurchase DYDX from the market each month. Related News: This Altcoin’s MicroStrategy Files with the SEC to Buy an Additional $5 Billion in Coins The buyback program was initiated by Treasury SubDAO, a subsidiary of dYdX Treasury, and implemented following community vote proposals #225 and #231. DYDX tokens purchased under the program are staked to support network security. The dYdX ecosystem generated a total of $5.05 million in protocol fees, allocating 25% of this revenue to buybacks. To date, 1.25 million DYDX tokens have been staked from these buybacks, bringing the total staked DYDX across the network to 295.39 million. The program provides an estimated annualized yield (APY) of DYDX tokens of 3.08%. *This is not investment advice. Continue Reading: Surprise Altcoin Developers Announce Completion of Token Buyback Program

Source: BitcoinSistemi