DYDX宣布其第一个回购计划，将协议费用的25％回购DYDX令牌

在一次独家的采访中，DyDX基金会首席执行官查尔斯·霍西（Charles D'Haussy）对社区倡议提供了观点，并阐明了令人兴奋的发展

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.

该公司宣布，去中心化交易所DYDX已宣布启动其首个回购计划，该计划将在公开市场上购买用于购买DYDX代币的协议费用的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.

根据去年的收入数量，每年购买的DYDX中的收入数量可能超过1100万。该计划遵循“买卖”模型，该模型将立即放置在验证者身上，以进一步加强链条的安全性。

“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基金会首席执行官Charles D'Haussy表示：“回购计划旨在使DYDX社区的利益与DYDX协议的长期增长保持一致，同时增强网络安全性。”

“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.”

“通过分配部分净协议收入（最初是25％）回购，DYDX社区已投票将DYDX令牌加强为生态系统的中心部分。”

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.

这个结构化的系统回购计划表明了对DYDX的收入模型和未来增长的信心。财政部将通过实施可预测的每月回购策略来始终将其收益重新投资到生态系统中。这项计划将有助于更好地将协议增长（2024年的2700亿个交易量）与社区联系起来，同时提高网络安全性。

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

该计划定于今天开始，首次回购将于2024年12月上旬执行。

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

DYDX回购计划旨在平衡协议的可持续性，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社区已决定将25％的净协议收入分配给回购计划。这将用于在公开市场上购买DYDX令牌。

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

然后，该程序的管理员将将获得的DYDX归为验证器，增强网络安全性并产生额外的奖励。

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.

主要的治理原则是DYDX回购计划的基础。常规的社区投票将决定该计划的范围，例如专用于回购时间和涵盖时间段的收入的百分比。

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

虽然代币的回购并不是什么新鲜事物，但DYDX的买卖模型与竞争对手根本不同。

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.

这种“购买与利益”模型将DYDX与使用回购程序的其他网络区分开来。诸如Binance之类的平台通过燃烧永久将令牌从循环中删除。其他人，例如超流动和木星，都使用回购来资助流动性激励措施。

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.

与Binance的BNB燃烧策略类似，大多数回购模型都集中在减少供应以推动价格升值的供应。相比之下，DYDX将回购的重新投资直接重新投资到股中。这样可以确保网络安全和权力下放与稳定性并联。

“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.

“通过公开承诺每月可预测的回购机制，国库子公司将确保一部分净收入的部分始终将其重新投资到生态系统中。这使社区保证该协议不仅会产生收入，而且还以与集体优先级保持一致的方式，” D'Haussy表示。”

dYdX’s protocol revenue is now distributed as follows:

DYDX的协议收入现在分配如下：

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.

回购计划的重要组成部分是其对网络安全性的直接贡献。 DYDX链上的验证者需要大量授权的股份才能有效运作。

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.

通过制作购买的DYDX，回购计划可确保验证者获得持续的支持。它还增加了更多的权力下放，并最大程度地减少了勾结的风险。

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

除了安全性之外，将这些令牌放在安全性上还会产生额外的USDC奖励，这些奖励被重新投资到生态系统中。

Here are some key details to keep in mind:

以下是要记住的一些关键细节：

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.

在接下来的几周中，社区将提供一个实时仪表板，以帮助跟踪钱包活动并评估回购计划的有效性。目的是展示回购如何有助于协议安全性，同时提供有关网络健康的更广泛的看法。

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

该仪表板将是社区成员保持知情和参与该计划的宝贵资源。

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.

除仪表板外，在治理论坛中的讨论还将提供额外的透明度。社区成员可以公开讨论该计划的有效性，并提出优化的建议。

“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.

为了保持透明度，回购将以结构化和可跟踪的方式执行，财政部子道管理专门用于回购的DYDX链上的帐户。社区将能够监视基金的资金流量，确保该过程与预期的供应和增强的构成效果，以确保其与预期的目标保持一致。 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:

尽管回购有助于令牌动态，但DYDX还在探索增加DyDX的实用程序的方法。将来，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.

DYDX Post DyDX首先推出了有史以来的回购计划，以将25％的协议费用用于回购DYDX代币，这首先出现在Beincrypto上。

As one of the OGs of DeFi, dYdX has hit a major milestone with the launch of its first-ever buyback program. The program

作为DEFI的OGS之一，DyDX随着其首个回购计划的启动，达到了一个重大的里程碑。该程序