标题：DYDX启动了第一个DYDX回购程序

该计划的功能可提高DYDX系统中的令牌信誉。该平台通过系统的DYDX令牌购买实现了长期的可持续性

Decentralized exchange dYdX has begun its first-ever DYDX buyback program. Starting April 1, 25% of net protocol fees will be used to purchase DYDX tokens from the open market every month. The initiative functions to strengthen the role of the token within the dYdX ecosystem.

分散的交易所DYDX已开始了有史以来第一个DYDX回购计划。从4月1日开始，每月将使用25％的净协议费来从公开市场上购买DYDX令牌。该计划的功能可以增强令牌在DYDX生态系统中的作用。

This integration allows the platform to achieve long-term sustainability through systematic DYDX token purchases and stakeholder deployments. The buyback program marks a crucial development in dYdX’s token operating system. Protocol revenue previously distributed its entire amount to members of the ecosystem.

这种集成使平台可以通过系统的DYDX代币购买和利益相关者部署来实现长期的可持续性。回购计划标志着DYDX令牌操作系统的关键发展。协议收入先前将其全部金额分发给了生态系统成员。

A new structured buyback system allows the DYDX token to gain benefits directly from protocol success. The updated revenue distribution model operates through Treasury SubDAO allocation of 10% while MegaVault receives 25% and both the buyback program gets 25% and staking rewards secure 40%. Both governance functions and network expansion benefits from this strategic investment model of funds reinvestment.

一个新的结构化回购系统允许DYDX令牌直接从协议成功中获得收益。更新的收入分销模型通过美国国库单案分配为10％，而Megavault则获得25％，而两个回购计划都获得25％，并且Stricking Rewards可肯定40％。治理功能和网络扩展都受益于这种资金再投资的战略投资模型。

Critical period for dYdX arrives because the buyback program adds support to its ongoing service expansions. The platform expands with EVM support and multi-asset margining and spot trading capabilities made possible through IBC Eureka. Multiple upgrades presently underway at the decentralized exchange will introduce a fresh influx of traders according to expectations.

DYDX的关键时期到来是因为回购计划为其正在进行的服务扩展增加了支持。该平台随着IBC Eureka提供了EVM支持和多资产利润率和现货交易功能的扩展。目前，分散交易所正在进行的多次升级将根据预期引入新的交易者涌入。

The main features of dYdX Unlimited entered public availability beginning in November 2024 while enhancing user trading benefits. The launch of the new mobile trading application took place in February 2025. DYdX demonstrated its market growth through its $270 billion trading volume while earning $46 million in net protocol fees in 2024.

DYDX Unlimited的主要功能从2024年11月开始在增强用户交易效益的同时，进入了公共可用性。新移动交易申请的启动于2025年2月进行。DYDX通过其2700亿美元的交易量展示了其市场增长，同时在2024年获得了4,600万美元的净协议费用。

This initiative demonstrates its effects on both DYDX token distribution and its future value retention. The current total token unlock reached 85% by March 1, 2025 while the emission rate will cut by 50% during June 2025. All releases of tokens will finish by June 2026. Regular token buybacks together with decreased new emission levels might result in token market stability and potentially rising value during the mentioned period.

该计划表明了它对DYDX代币分布及其未来价值保留的影响。目前的令牌解锁到2025年3月1日达到85％，而在2025年6月的排放率将降低50％。所有令牌的发行率都将在2026年6月之前完成。定期的代币回购以及新的排放水平降低可能会导致代币的市场稳定性，并在上述期间内降低。

The dYdX Layer 1 network launched in 2023 as a dedicated blockchain platform that significantly influenced DYDX token development. The total supply of tokens includes 86% located on the dYdX Chain alongside 14% still stored on Ethereum as ethDYDX. The dYdX Community has suggested discontinuing cross-chain bridge service in June 2025 which will eliminate all unbridged ethDYDX supply from circulation. The deadline approaches so token holders need to perform token bridging.

DYDX 1层网络于2023年推出，是一个专用的区块链平台，该平台极大地影响了DYDX令牌开发。代币的总供应包括位于DYDX链上的86％，还有14％仍在以太坊上存储为Ethdydx。 DYDX社区建议在2025年6月停用跨链桥服务，这将消除所有未框架的Ethdydx供应。截止日期临近，因此令牌持有人需要执行令牌桥接。

Community governance served as the mechanism to introduce all major decisions in the dYdX ecosystem including the introduction of the buyback program. Numerous discussions have begun to explore increasing buyback distribution to use 100% of net protocol fees. A release of this change would speed up the reduction of circulating tokens while simultaneously boosting network security.

社区治理是在DYDX生态系统中引入所有主要决定的机制，包括引入回购计划。许多讨论已经开始探索不断增加的回购分配，以使用100％的净协议费用。此更改的发布将加快减少循环令牌，同时提高网络安全性。

The long-term strategy of dYdX becomes feasible through their strong financial support and ongoing innovation and dedicated community network. The platform demonstrates its dedication to constructing a sustainable decentralized trading ecosystem through its buyback program.

通过强大的财务支持和持续的创新和专门的社区网络，DYDX的长期战略变得可行。该平台展示了通过其回购计划构建可持续分散交易生态系统的奉献精神。