DYDX宣布其第一個回購計劃，將協議費用的25％回購DYDX令牌

在一次獨家的採訪中，DyDX基金會首席執行官查爾斯·霍西（Charles D'Haussy）對社區倡議提供了觀點，並闡明了令人興奮的發展

Decentralized exchange dYdX has announced the launch of its first-ever buyback program, which will see 25% of protocol fees used to purchase DYDX tokens on the open market, the company announced.

該公司宣布，去中心化交易所DYDX已宣布啟動其首個回購計劃，該計劃將在公開市場上購買用於購買DYDX代幣的協議費用的25％。

Based on last year’s revenue numbers, that could amount to over 11M in DYDX purchased yearly. The initiative follows a “Buy & Stake” model, where the purchased tokens will be immediately staked to validators to further strengthen the chain’s security.

根據去年的收入數量，每年購買的DYDX中的收入數量可能超過1100萬。該計劃遵循“買賣”模型，該模型將立即放置在驗證者身上，以進一步加強鏈條的安全性。

“The Buyback Program is designed to align the interests of the dYdX community with the long-term growth of the dYdX protocol while enhancing network security,” said Charles d’Haussy, CEO of the dYdX Foundation.

DYDX基金會首席執行官Charles D'Haussy表示：“回購計劃旨在使DYDX社區的利益與DYDX協議的長期增長保持一致，同時增強網絡安全性。”

“By allocating a portion of net protocol revenue—initially 25%—to buybacks, the dYdX community has voted to reinforce the DYDX token as a central part of the ecosystem.”

“通過分配部分淨協議收入（最初是25％）回購，DYDX社區已投票將DYDX令牌加強為生態系統的中心部分。”

This structured, systematic buyback program demonstrates confidence in dYdX’s revenue model and future growth. The Treasury subDAO will consistently reinvest its earnings into the ecosystem by implementing a predictable, monthly buyback strategy. This initiative will help to better connect protocol growth (270 billion trading volume in 2024) with the community, all while improving network security.

這個結構化的系統回購計劃表明了對DYDX的收入模型和未來增長的信心。財政部將通過實施可預測的每月回購策略來始終將其收益重新投資到生態系統中。這項計劃將有助於更好地將協議增長（2024年的2700億個交易量）與社區聯繫起來，同時提高網絡安全性。

The program is set to commence today, with the first buyback to be executed in early December 2024.

該計劃定於今天開始，首次回購將於2024年12月上旬執行。

The dYdX Buyback Program is designed to balance protocol sustainability, security, and governance transparency.

DYDX回購計劃旨在平衡協議的可持續性，安全性和治理透明度。

The dYdX community has decided to allocate 25% of net protocol revenue to the buyback program. This will be used to purchase DYDX tokens on the open market.

DYDX社區已決定將25％的淨協議收入分配給回購計劃。這將用於在公開市場上購買DYDX令牌。

The administrator of the Program will then stake the acquired DYDX to validators, strengthening network security and generating additional rewards.

然後，該程序的管理員將將獲得的DYDX歸為驗證器，增強網絡安全性並產生額外的獎勵。

Key governance principles underpin the dYdX Buyback Program. Regular community voting will determine the program’s scope, such as the percentage of revenue dedicated to buybacks and the covered time periods.

主要的治理原則是DYDX回購計劃的基礎。常規的社區投票將決定該計劃的範圍，例如專用於回購時間和涵蓋時間段的收入的百分比。

While token buybacks are not new, dYdX’s Buy & Stake model differs fundamentally from competitors.

雖然代幣的回購併不是什麼新鮮事物，但DYDX的買賣模型與競爭對手根本不同。

This ‘Buy & Stake’ model differentiates dYdX from other networks that use buyback programs. Platforms like Binance permanently remove tokens from circulation through burns. Others, like Hyperliquid and Jupiter, use buybacks to fund liquidity incentives.

這種“購買與利益”模型將DYDX與使用回購程序的其他網絡區分開來。諸如Binance之類的平台通過燃燒永久將令牌從循環中刪除。其他人，例如超流動和木星，都使用回購來資助流動性激勵措施。

Similar to Binance’s BNB burn strategy, most buyback models focus on reducing supply to drive price appreciation. In contrast, dYdX reinvests buybacks directly into staking. This ensures that network security and decentralization are strengthened in parallel with stability.

與Binance的BNB燃燒策略類似，大多數回購模型都集中在減少供應以推動價格升值的供應。相比之下，DYDX將回購的重新投資直接重新投資到股中。這樣可以確保網絡安全和權力下放與穩定性並聯。

“By publicly committing to a predictable, monthly buyback mechanism, the Treasury SubDAO will ensure that a portion of net revenue is consistently reinvested into the ecosystem. This reassures the community that the protocol is not only generating revenue but also allocating it in a way that aligns with collective priorities,” said d’Haussy.

“通過公開承諾每月可預測的回購機制，國庫子公司將確保一部分淨收入的部分始終將其重新投資到生態系統中。這使社區保證該協議不僅會產生收入，而且還以與集體優先級保持一致的方式，” D'Haussy表示。”

dYdX’s protocol revenue is now distributed as follows:

DYDX的協議收入現在分配如下：

An essential part of the Buyback Program is its direct contribution to network security. Validators on the dYdX Chain need a large amount of delegated stake to function effectively.

回購計劃的重要組成部分是其對網絡安全性的直接貢獻。 DYDX鏈上的驗證者需要大量授權的股份才能有效運作。

By staking the purchased DYDX, the Buyback Program ensures that validators receive ongoing support. It also adds more decentralization and minimizes the risks of collusion.

通過製作購買的DYDX，回購計劃可確保驗證者獲得持續的支持。它還增加了更多的權力下放，並最大程度地減少了勾結的風險。

Beyond security, staking these tokens generates additional USDC rewards, which are reinvested into the ecosystem.

除了安全性之外，將這些令牌放在安全性上還會產生額外的USDC獎勵，這些獎勵被重新投資到生態系統中。

Here are some key details to keep in mind:

以下是要記住的一些關鍵細節：

In the coming weeks, the community will provide a real-time dashboard to help track wallet activity and assess the effectiveness of the Buyback Program. The goal is to demonstrate how buybacks contribute to protocol security while offering a broader perspective on network health.

在接下來的幾周中，社區將提供一個實時儀表板，以幫助跟踪錢包活動並評估回購計劃的有效性。目的是展示回購如何有助於協議安全性，同時提供有關網絡健康的更廣泛的看法。

This dashboard will be a valuable resource for community members to stay informed and engaged in the program.

該儀表板將是社區成員保持知情和參與該計劃的寶貴資源。

Besides the dashboard, discussions in governance forums will provide an additional layer of transparency. Community members can openly discuss the program’s effectiveness and make proposals for optimization.

除儀表板外，在治理論壇中的討論還將提供額外的透明度。社區成員可以公開討論該計劃的有效性，並提出優化的建議。

“To maintain transparency, buybacks will be executed in a structured and trackable manner, with the Treasury SubDAO managing an Account on the dYdX Chain dedicated to the Buyback. The community will be able to monitor fund flows, ensuring that the process remains aligned with its intended objectives. Over time, as buybacks reduce circulating supply and strengthen network security, this initiative is expected to contribute to a more positive market perception,” added d’Haussy.

為了保持透明度，回購將以結構化和可跟踪的方式執行，財政部子道管理專門用於回購的DYDX鏈上的帳戶。社區將能夠監視基金的資金流量，確保該過程與預期的供應和增強的構成效果，以確保其與預期的目標保持一致。 D'Haussy。

While buybacks contribute to token dynamics, dYdX is also exploring ways to increase DYDX’s utility beyond staking. In the future, possibilities include:

儘管回購有助於令牌動態，但DYDX還在探索增加DyDX的實用程序的方法。將來，可能性包括：

The post dYdX Unveils First-Ever Buyback Program to Devote 25% of Protocol Fees to Repurchase DYDX Tokens appeared first on Beincrypto.

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