DYDX shoots up 10% as buybacks get a quarter of protocol revenue

Decentralized finance (DeFi) trading platform dYdX announced its first-ever token buyback program on March 24, aiming to reinvest in its ecosystem to enhance security and governance. According to the announcement, 25% of the protocol’s net fees will be dedicated to monthly buybacks of its native dYdY (DYDX) token on the open market. Following the announcement, DYDX surged over 10% and was trading at approximately $0.731 at the time of writing, according to CoinGecko source: https://cointelegraph.com/news/dydx-shoots-up-10-as-buybacks-get-a-quarter-of-protocol-revenue?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound