dYdX Annual Report: Cumulative Trading Volume Exceeds $1.55 Trillion, Token Buybacks Expand to 75% of Protocol Net Revenue
TL;DR
dYdX's 2025 report shows cumulative trading volume over $1.55 trillion, with Q4 hitting $34.3 billion. The DYDX buyback program expands to 75% of net revenue, and token holders grow to 98,000.
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According to Foresight News , the dYdX Foundation released its 2025 Ecosystem Annual Report, highlighting key findings including: cumulative trading volume exceeding $1.55 trillion, continued widespread adoption of on-chain derivatives infrastructure; quarterly trading volume recovering from approximately $16 billion in Q2 to $34.3 billion in Q4, making it the best-performing quarter since 2025; launch of the DYDX buyback program, with governance approval to expand the buyback scale to 75% of the protocol's net revenue; and increasing token holder participation, with approximately 98,000 DYDX holders by the end of 2025.