Zug, Switzerland, October 15, 2025 — The dYdX Foundation hosted its October 2025 Analyst Call, gathering analysts and ecosystem stakeholders to review the protocol’s performance, token metrics, and roadmap heading into 2026.
The session featured Charles d’Haussy, CEO of dYdX Foundation, Joshua Watts, COO at the Foundation, as well as Eddie Zhang, President of dYdX Labs - who presented updates on new trading features, and the expansion of dYdX’s product suite — including an entry into the U.S. market.
Protocol Growth and On-Chain Performance
The dYdX Chain continues to reinforce its leadership in decentralised derivatives, surpassing $1.52 trillion in lifetime trading volume across all protocol versions. Since the launch of the chain, the protocol has generated about $62 million in cumulative fees, with almost $50 million rewards distributed to stakers in USDC. In the past 30 days, the number of new token holders has also grown by about 10,000, bringing the total number of DYDX holders to over 92,000.
Charles d’Haussy, CEO of the dYdX Foundation, noted that dYdX’s consistent volume and active participation from traders and validators illustrate “a growing preference for decentralised infrastructure built with institution-grade standards.”
Token and Buyback Program
The DYDX token remains at the centre of the ecosystem’s security alignment, with over 240 million DYDX staked across validators and a median APR of 8.8% in H1, 2025.
To better its community activity and chain security through staking, the DAO approved Buyback Program has repurchased more than 5.3 million DYDX tokens to date, with more Buybacks planned for Q4, 2025.
“When investors seek exposure to crypto market growth and leading derivatives platforms, dYdX consistently ranks among the top choices,” said Charles d’Haussy, CEO of the dYdX Foundation.
Product and Roadmap Highlights
Eddie Zhang, President of dYdX Labs shared an updated roadmap focused on deepening liquidity, expanding asset coverage, and improving trader experience. Key initiatives include:
- Solana Spot Trading launching in November 2025, and paving the way for U.S. market entry.
- A revamped Prediction Markets module, reintroducing decentralised event trading.
- Integrated Staking and trading, enabling users to manage assets directly from the trading interface.
- New trading tools, such as TWAP and scaled orders, tailored for institutional traders.
“We’re building the most reliable and versatile trading infrastructure in DeFi,” said Eddie Zhang, President of dYdX Labs. “Our roadmap is focused on performance, user experience, and creating clear value pathways between traders, stakers, and the protocol itself.”
Infrastructure and Governance Advancements
dYdX continues to strengthen its technical foundation with a focus on latency, throughput, and governance transparency:
- The Designated Proposer model, approved by governance in September, has enhanced block production speed and consistency.
- The new Order Entry Gateway introduces a one-hop, low-latency connection between traders and proposers, reducing order routing complexity.
- Permissioned Keys are now live, providing multi-user access control — a critical feature for institutional adoption.
Governance engagement also reached new highs, with over 270 proposals passed to date. Recent initiatives include simplifying fee tiers to encourage new market maker participation and align with the industry’s leading centralised exchanges.
Ecosystem Expansion and Partnerships
The dYdX ecosystem continues to grow through strategic integrations and distribution partnerships:
- The Crypto.com partnership reached $100 million in cumulative trading volume.
- CoinRoutes will become the first partner in dYdX’s Revenue Share Program, pending final governance approval.
- Affiliate Program updates introduced a sliding commission model (15%–50%), rewarding affiliates based on referral trading volumes.
- Pocket Pro Telegram integration has launched with strong early conversion and retention data.
With an expanding product suite, global distribution partnerships, and a maturing governance model, dYdX enters the final quarter of 2025 positioned for continued growth. The protocol’s 2026 roadmap will emphasize performance and institutional-grade innovation — reaffirming dYdX’s mission to make decentralized trading fast, fair, and open to all.
About dYdX Foundation
The dYdX Foundation is an independent not-for-profit foundation headquartered in Zug, Switzerland. The Foundation’s purpose is to support the current implementation and any future implementations of the dYdX protocol, and to foster community-driven growth in the dYdX ecosystem.
About dYdX Labs
dYdX Labs is the core development team behind dYdX, DeFi’s pro trading platform. Founded in 2017, dYdX has now surpassed $1.5 trillion in cumulative trading volume, cementing its position as one of the leading decentralized trading venues.
Disclaimer:
This release contains forward-looking statements based on current expectations and assumptions. Actual results may differ materially due to risks and uncertainties. The Foundation undertakes no obligation to update any forward-looking statements.
About the dYdX Foundation
Legitimacy and Disclaimer
Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets.
dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to U.S. persons as well as in other restricted jurisdictions. The dYdX Foundation does not operate or participate in the operation of any component of the dYdX Chain's infrastructure.
The dYdX Foundation’s purpose is to support the current implementation and any future implementations of the dYdX protocol and to foster community-driven growth in the dYdX ecosystem.
The dYdX Chain software (including dYdX Unlimited) is open-source software to be used or implemented by any party in accordance with the applicable license. At no time should the dYdX Chain and/or its software or related components (including dYdX Unlimited) be deemed to be a product or service provided or made available in any way by the dYdX Foundation. Interactions with the dYdX Chain software (including dYdX Unlimited) or any implementation thereof are permissionless and disintermediated, subject to the terms of the applicable licenses and code. Users who interact with the dYdX Chain software, i ncluding dYdX Unlimited (or any implementations thereof) will not be interacting with the dYdX Foundation in any way whatsoever. The dYdX Foundation does not make any representations, warranties or covenants in connection with the dYdX Chain software (or any implementations and/or components thereof, including dYdX Unlimited), including (without limitation) with regard to their technical properties or performance, as well as their actual or potential usefulness or suitability for any particular purpose, and users agree to rely on the dYdX Chain software (or any implementations and/or components thereof, including dYdX Unlimited) “AS IS, WHERE IS”.
Nothing in this post should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act by anyone. Users should conduct their own research and due diligence before making any decisions. The dYdX Foundation may alter or update any information in this post in the future at its sole discretion and assumes no obligation to publicly disclose any such change. This post is solely based on the information available to the dYdX Foundation at the time it was published and should only be read and taken into consideration at the time it was published and on the basis of the circumstances that surrounded it. The dYdX Foundation makes no guarantees of future performance and is under no obligation to undertake any of the activities contemplated herein.
Depositing into the MegaVault carries risks. Do your own research and make sure to understand the risks before depositing funds. MegaVault returns are not guaranteed and may fluctuate over time depending on multiple factors. MegaVault returns may be negative and you may lose your entire investment.The dYdX Foundation does not operate or has control over the MegaVault and has not been involved in the development, deployment and operation of any component of the dYdX Unlimited software (including the MegaVault).
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