dYdX Proposal #272: Kuyen Labs VIP Affiliate Whitelist

This on-chain vote, proposal #272, seeks approval to add specific addresses associated with Kuyen Labs to the VIP Affiliate Program whitelist, along with deposits to subaccounts. Kuyen Labs specializes in smart contract-based marketing and growth tools for Web3, including contributions to protocols like Fuul. The VIP tier allows affiliates to earn up to 50 percent of taker fees from referrals, capped at 10,000 USDC per referral monthly, compared to standard rates. The purpose is to leverage affiliates for broader reach, incentivizing referrals that boost trading activity. Its significance lies in strengthening dYdX's ecosystem through strategic partnerships, potentially increasing liquidity and user base. If passed, it could accelerate adoption by attracting more traders via rewarded promotions. Governance votes like this may influence token dynamics, so holders should consider potential short-term price movements.

Recent News

dYdX has pursued aggressive growth in 2025. August featured a roadmap update with rebranding to dYdX Labs, free instant deposits across multiple chains, and a focus on Solana integrations. July launched Surge Season 4 for trading rewards and an 8 million dollar grants program to support ecosystem builders. Earlier, a v9.0 software upgrade vote passed, enhancing features. Despite an 84 percent earnings drop to 3.2 million dollars in Q2, these initiatives signal a turnaround, with TVL stabilizing amid broader DeFi recovery.

Future Plans

The 2025 roadmap emphasizes accessibility and performance. September will introduce Telegram-based trading to simplify entry for retail users. Upcoming upgrades include further API reliability boosts, already up 98 percent since April, and expanded token utility for governance and rewards. Long-term, dYdX aims for billions in annual volume through competitions, affiliate expansions, and multichain tools, positioning itself as a leading perpetuals DEX with seamless onboarding and high-speed execution.

Onchain Data

dYdX maintains a TVL around 267 to 300 million dollars, with H1 2025 perpetuals volume hitting 1.5 trillion dollars. Daily transaction volumes reach tens of millions, reflecting steady activity. Staking and governance participation remain strong, though detailed three-month trends from platforms like Dune Analytics are limited; wallet growth aligns with campaign-driven engagement.

Community Sentiment

X discussions show support for growth-focused proposals, with users highlighting affiliate programs as key to onboarding. Mentions of this vote praise potential for increased volume, though some seek more details on affiliates; overall, reactions to dYdX's updates trend positive, emphasizing momentum in trading tools and rewards.