DEFI协议DYDX启动令牌回购计划，将其净协议费的25％用于回购DYDX令牌

该协议计划将其净协议费的25％用于从公开市场上回购DYDX令牌。

DeFi protocol dYdX has announced the launch of a token buyback program. The protocol plans to spend 25% of its net protocol fees on buying back the DYDX token from the open market.

DEFI协议DYDX已宣布启动代币回购计划。该协议计划将其净协议费的25％用于从公开市场上回购DYDX令牌。

In an announcement today, the protocol stated that the move would reinforce confidence in the token and align it with the protocol’s broader vision. The acquired tokens would be used for staking to improve network security, which aligns with the token’s significant role in the protocol ecosystem.

该协议在今天的公告中指出，此举将增强对令牌的信心，并与协议的更广泛的愿景保持一致。获得的代币将用于积分来提高网络安全性，这与令牌在协议生态系统中的重要作用相符。

“This initiative marks a significant milestone for dYdX tokenomics, further aligning platform growth with the role of the DYDX token in the ecosystem,” dYdX said.

Dydx说：“这项计划标志着DYDX代币学的重要里程碑，将平台增长与DyDX令牌在生态系统中的作用相结合。”

The protocol also detailed the full distribution of the protocol revenue, noting that all the revenue has been allocated to ecosystem participants in the past year.

该协议还详细介绍了协议收入的全部分配，并指出过去一年中所有收入已分配给生态系统参与者。

40% of the revenue will go towards staking rewards, 25% for MegaVault, its USDC liquidity program, and 10% for the Treasury SubDAO. The announcement noted that the distribution structure ensures that all revenue generated by the protocol is reinvested into the ecosystem to improve its security and governance and ensure its long-term sustainability. It added that the percentage allocated to buyback could increase to 100% later.

收入的40％将用于存放奖励，Megavault为25％，其USDC流动性计划和10％的财政部子公司。该公告指出，分配结构确保协议产生的所有收入都将重新投资到生态系统中，以提高其安全性和治理，并确保其长期可持续性。它补充说，分配给回购的百分比可能会在后来增加到100％。

DYDX surges 8% after news of buyback

回购消息后，dydx飙升了8％

Following news of the buyback, the DYDX token saw an almost 8% increase in value, taking its price to $0.715. This is a welcome development for a token that has struggled for most of this year and is currently down 51% year-to-date. CoinGecko data shows the token is down 84% from its peak price of $4.51, reached back in March 2024.

在回购的消息之后，DYDX代币的价值增长了近8％，其价格为0.715美元。对于今年大部分时间都在努力的代币而言，这是一个可喜的发展，目前逐年下跌51％。 Coingecko数据显示，令牌比其高峰价格$ 4.51下降了84％，到2024年3月。

Interestingly, the move to adopt buyback aligns with what appears to be the common trend in the DeFi sector today, with multiple projects modifying their tokenomics to enable token buyback programs.

有趣的是，采用回购的举动与当今Defi行业的共同趋势保持一致，其中多个项目修改了他们的标记学以启用令牌回购计划。

Leading lending protocol Aave is working on implementing Aavenomics, which includes a buyback program that will see the protocol buy $1 million worth of AAVE tokens weekly for six months. Other projects, including Hyperliquid, Jupiter, and Uniswap, also have plans to initiate a similar program.

领先的贷款协议AAVE正在努力实施适应性学，其中包括一个回购计划，该计划将使该协议每周购买价值100万美元的AAVE代币，持续六个月。其他项目，包括Hypliquid，Jupiter和UnisWap，还计划启动类似的程序。

The interest is not totally surprising as token buybacks create constant demand for tokens, usually leading to a price increase and reduction in the circulating supply of the token. While there have also been a few criticisms of the practice, many in the crypto industry consider it a bullish sign for any project.

兴趣并不完全令人惊讶，因为代币回购对代币产生了持续的需求，通常会导致代币循环供应的价格上涨和降低。尽管对这种做法也有一些批评，但加密货币行业中的许多人认为这是任何项目的看涨标志。

Despite the token price struggling this year, dYdX has seen its TVL decline. At the start of the year, the protocol’s TVL stood at over $1 billion, but it has since dropped to $279 million.

尽管今年的代币价格挣扎，但DyDX的TVL下降了。年初，该协议的TVL超过10亿美元，但此后已降至2.79亿美元。

One of the factors contributing to the decline in TVL was the decision to move away from Ethereum to its own Layer-1 network in 2023. Although 86% of the token supply is now on the dYdX L1 network, 14% has not been bridged from Ethereum. Holders of these remaining tokens may need to act fast with the community proposal for ending support for the Ethereum cross-chain bridge by June 2025.

导致TVL下降的因素之一是决定在2023年从以太坊转移到其自己的1层网络。尽管目前有86％的令牌供应在DYDX L1网络上，但14％的供应尚未从以太坊桥接。这些剩下的令牌的持有人可能需要在2025年6月之前结束对以太坊跨链桥的支持，以迅速采取行动。