$DYDX Token Rights
Updated Apr 20, 2026Overview
- Token(s)
- DYDX
- Token Type
- NetworkGovernanceUtility
- Utility
- Staking
DYDX is the staking and governance token of the dYdX Chain, used to delegate to validators for network security, vote on protocol enhancements, and access value accrual from trading fees. 75% of protocol fees are used to buy back DYDX
Governance Rights
ControlHolders can vote on revenue allocations, market listings, parameter changes, & software upgrades
Governance Decisions
Treasury Decisions
Portion of net fees are allocated to Treasury SubDAO, controlled by governance
Revenue Decisions
Holders govern net fee distributions
Fee Switch
ON75% fees for buybacks
Resources
Foundation Multisigs / Addresses
Primary Value Accrual
BuybacksValue accrues through buybacks
Equity Statement
In 2025, dYdX implemented a protocol buyback program using fees to acquire DYDX tokens. As of November 2025 the community voted to increase DYDX buybacks from 25% to 75% of protocol fees
Economic Rights
Value Capture75% of net protocol revenue is allocated to the Treasury and used toward dydx buyback program
Buybacks
75% of net protocol fees used for monthly open-market DYDX buybacks, with purchased tokens staked to validators
Dividends
N/ANo dividend or revenue distribution is currently active
Burns
N/ANo burn mechanism is currently active
Ownership
Raise History
4 rounds · $87m total| Date | Amount | Round | Valuation | |
|---|---|---|---|---|
| Jun 15, 2021 | $65m | Series C | — | |
| Jan 26, 2021 | $10m | Series B | — | |
| Oct 19, 2018 | $10m | Series A | — | |
| Dec 19, 2017 | $2m | Seed | — |
- Fundraising
- Token Sale
- Equity Revenue Capture
- No
- Associated Entities
- DAOFoundationLabs