dYdX, a decentralized trading platform, has launched a buyback initiative to repurchase DYDX tokens from the market.
The program allocates 25% of net protocol fees, potentially repurchasing $11 million worth of DYDX tokens annually.
The buyback utilizes a Time-Weighted Average Price strategy and stakes the tokens to validators, cutting circulating supply and reinforcing network security.
Future upgrades and a potential increase in the buyback rate to 100% could further impact the value of DYDX crypto.