The dYdX Foundation Prop #280 Vote

"Should the community approve Stage 2 of the dYdX Treasury SubDAO $DYDX Buyback Program?"

"Should the community approve the whitelisting of new and existing VIP affiliates by @KuyenLabs?"

The dYdX Foundation, established in 2021, drives decentralized governance for the dYdX protocol, a DeFi platform for perpetual futures trading, by empowering community voting on key updates like the proposed liquidity tier for Instant Market Listings. Instant Market Listings, launched in November 2024, allow users to list and trade any asset on dYdX with immediate liquidity from the MegaVault, requiring a $10,000 USDC deposit for 30 days to ensure orderbook depth. On-chain voting, as used here, records votes directly on the blockchain via smart contracts, ensuring transparency and immutability, a method increasingly adopted in DeFi governance since AAVE’s model in 2020.

The dYdX Foundation, supporting the dYdX ecosystem’s decentralized governance, posted an on-chain vote on April 9, 2025, to whitelist new and existing VIP affiliates proposed by KuyenLabs, with voting ending April 12, 2025, at 19:43 UTC.The VIP Affiliate program, detailed in a dYdX grant, allows qualified affiliates to earn up to 50% of referred user taker fees (max $10,000 per referral every 30 days), aiming to attract larger KOLs and institutional partners.On-chain voting via blockchain, as used here, ensures transparency and immutability, but research like Gao et al. (2021) highlights scalability issues, noting that large-scale block generation can delay polling processes.

The dYdX Foundation has proposed increasing the block rate limit, which caps the number of transactions (like orders or cancellations) per block on the dYdX Chain. Currently, traders in lower equity tiers ($20–$10,000) face tight limits—e.g., only 4 stateful orders for $20–$100 collateral. The proposal aims to raise these to 10–50 orders, boosting trading efficiency while balancing network stability. Voting began May 7 and ends May 11, 2025, at 12:25 UTC. With a 33.4% quorum needed, turnout is at 22.2%, risking rejection despite 98.41% “YES” votes (Mintscan). Recent NewsdYdX has been on a roll in 2025. Their March roadmap emphasized stability and speed, introducing bi-weekly updates and a revamped mobile app for easier onboarding (BeInCrypto, Mar 2025). This proposal aligns with their focus on enhancing user experience, addressing trader frustrations over restrictive limits that hinder liquidity and order book depth. Future PlansdYdX aims to lead the DeFi derivatives market, which is still under 10% of centralized exchange volumes. Upcoming features include expanded trading tools and deeper platform improvements, with a detailed roadmap expected later this year (BeInCrypto, Mar 2025). Increasing block rate limits could attract more traders, strengthening their competitive edge. Onchain DatadYdX Chain metrics show steady growth. Staking Rewards reports a circulating supply of ~500M DYDX, with 30% staked, reflecting strong community trust. However, specific transaction volume data for this proposal isn’t available (Staking Rewards, 2025). Community SentimentX buzz is mixed—traders are excited for more flexibility, but some worry about network strain. Influencers like @DeFiWizard have praised the move, noting it could deepen liquidity, though concerns about scalability linger. Risk DisclaimerIncreasing block rate limits may lead to network congestion if not managed well—traders should monitor performance post-vote.

The dYdX Foundation has proposed increasing equity tier rate limits for short-term orders on the dYdX Chain, aiming to better accommodate traders by reducing restrictions on order placements per block. Voting ends May 16, 2025, at 06:29 UTC, with early results showing 94.46% "YES" support from 126.15M dYdX votes (Mintscan, 2025). This change could enhance trading efficiency, potentially attracting more users to the platform amid growing DeFi derivatives demand. Recent NewsIn March 2025, dYdX unveiled its 2025 roadmap, focusing on stability, speed, and new products, including a streamlined deposit/withdrawal process reducing wait times from 18+ minutes to under 1 minute (beincrypto.com, 2025). A governance vote that same month saw 96.15% approval, boosting DYDX token price by 5.8% and trading volume by 191% (blockchain.news, 2025). These updates highlight dYdX’s commitment to user experience and community-driven growth. Future PlansdYdX aims to solidify its position as the top decentralized derivatives platform, with plans to expand trading tools and further optimize performance (beincrypto.com, 2025). As DeFi derivatives still lag behind centralized exchanges (less than 10% of volumes), dYdX is poised for significant growth in the coming years. Onchain DataThe vote’s turnout is strong at 49.61%, surpassing the 33.40% quorum, with 126.15M dYdX tokens voting "YES" (Mintscan, 2025). While specific trading volume data post-vote isn’t available, past governance approvals have driven DYDX trading spikes, suggesting potential market activity ahead (blockchain.news, 2025). Community SentimentX reactions are overwhelmingly positive, with users like @art_rails sharing voting results (100% "YES" early on) and @amin_1990 praising dYdX’s decentralized governance model. Traders are clearly engaged, with calls to action like “Don’t forget to vote” trending (Shadow, 2025). Risk DisclaimerWhile the proposal is community-backed, market reactions to governance changes can lead to short-term volatility. Always DYOR before trading.

The dYdX Foundation initiated an expedited governance proposal to delist three trading markets—EOS, BTRUMP, and SKITTEN—from its decentralized exchange. The vote, which started May 22, 2025, at 07:25 UTC, closes on May 23, 2025, at 07:25 UTC. This 24-hour window reflects the urgency of the decision, likely driven by low trading volumes or regulatory concerns. If passed, the delisting could impact traders holding these assets on dYdX, a leading platform for decentralized perpetual futures (@dydxfoundation). Recent NewsdYdX has been making waves in DeFi. In March 2025, they unveiled a roadmap focusing on stability and speed, including a streamlined deposit/withdrawal process with Skip, reducing wait times from 18+ minutes to under 1 minute (beincrypto.com, 2025-03-11). This aligns with their goal to dominate the decentralized derivatives market, which still lags behind centralized exchanges at under 10% of total volume. Future PlansLooking ahead, dYdX aims to expand trading tools and enhance user experience, solidifying its position as a top DeFi platform. Their roadmap hints at new product releases later in 2025, potentially introducing advanced analytics and more markets to attract a broader user base (beincrypto.com, 2025-03-11). Market ImpactPost-announcement, BTRUMP dropped 5.7% to $0.0023 with a 22% volume surge to $1.1M, while SKITTEN fell 4.1% to $0.00045, with volume up 15% to $320,000 (blockchain.news, 2025-05-22). EOS, a blockchain for dapps, faces scrutiny despite its scalability focus. Onchain data for these tokens on dYdX isn’t public, but the price dips signal market sensitivity to governance moves. Community SentimentX reactions are mixed. Some users like @cardzz and @tobilobapip urge voting, showing engagement, while @alpakyz77 criticized dYdX’s price performance, reflecting frustration amid Bitcoin’s $110k peak. The community values the decentralized decision-making but debates the delisting rationale. Risk NoteDelistings can cause price volatility. Traders should monitor these markets closely and avoid impulsive trades.

The dYdX Foundation initiated an on-chain vote on May 23, 2025, to whitelist new and existing VIP affiliates proposed by KuyenLabs. This vote, ending May 26 at 17:09 UTC, aims to boost trading liquidity on dYdX, a leading decentralized derivatives platform. Approved affiliates can earn up to 50% of taker fees (max $10,000 per referral monthly), incentivizing user acquisition and ecosystem growth (dydx.foundation). A successful vote could enhance strategic ties in DeFi, potentially positioning dYdX as a top liquidity hub. Recent NewsdYdX has been on a roll! In March 2025, they unveiled a roadmap focusing on stability, speed, and new products, including a revamped mobile app for easier trading (beincrypto.com). On May 13, DYDX’s price rose 3.2% to $2.15, with trading volume up 18% to $45.6M, reflecting strong market interest in governance-driven events (blockchain.news). Future PlansdYdX aims to dominate the decentralized derivatives market, which is still under 10% of centralized exchange volumes. Upcoming bi-weekly updates will keep users informed on platform improvements, with plans to expand trading tools and user experience (beincrypto.com). Onchain DataWhile specific voting participation metrics aren’t public, blockchain.news noted a correlation with DeFi tokens like UNI and AAVE, which saw 10-12% volume spikes on May 13, hinting at sector-wide governance interest. Onchain analytics could reveal more post-vote via platforms like Dune Analytics. Community SentimentX users are buzzing with positivity! @lovaniceth called the vote a “great example of community-driven governance,” while @gutss0x praised dYdX’s decentralization ethos. The sentiment is largely bullish, with “gdYdX” trending among supporters. Market InsightWith crypto sentiment shifting from “fear” to “neutral” in April 2025 (cointelegraph.com), DeFi governance events like this could drive further optimism. A positive outcome may push DYDX toward $2.30 resistance (blockchain.news). Risk Note: If the vote fails, sentiment could dip, leading to short-term price volatility—trade wisely!

The dYdX Foundation, in partnership with KuyenLabs, launched an on-chain vote to whitelist VIP affiliates, aiming to boost trading liquidity and deepen institutional ties on the dYdX decentralized exchange. The vote, live since May 29, ends on June 2, 2025, at 15:30 UTC. The VIP Affiliate Program offers up to 50% of referred user taker fees (capped at $10,000 monthly per referral), incentivizing larger KOLs and institutional players to join the platform [dydx.forum]. Early voting data on Mintscan shows strong support, with 88.24% "YES" votes and a 39.92% turnout as of May 31 [Mintscan]. Recent NewsThis isn’t dYdX’s first rodeo! In April 2025, a similar vote led to a 5.6% DYDX price surge (from $1.25 to $1.32) and a 20% trading volume spike within an hour [blockchain.news]. Meanwhile, dYdX’s Surge Season 2 just wrapped up, driving user activity and setting the stage for Season 3, which is fueling speculation of another price breakout [X post by CryptoNews_1]. Future PlansdYdX is doubling down on accessibility and transparency. Their roadmap includes a faster front-end rewrite, new order features like TWAP, and bi-weekly development updates to keep the community in the loop [dydx.xyz]. These upgrades aim to solidify dYdX as a leading DeFi trading platform. Onchain DataStakingRewards reports dYdX’s circulating supply dynamics are tightening, with active buyback programs using protocol fees to reduce token supply—a bullish signal for DYDX holders [stakingrewards.com]. However, exact trading volume data post-Surge Season 2 is unavailable as of now. Community SentimentX reactions are mixed but largely positive. Users like @Priest_JK23 and @HamzaMurtala7 praise dYdX’s community-driven approach, though some, like @FridayPer43217, question the proposal’s tangible impact. The buzz around Surge Season 3 is also driving FOMO! Why It MattersApproval could enhance dYdX’s credibility, attract more liquidity, and potentially spark a price rally—perfect for traders eyeing short-term gains. Risk Disclaimer: Price volatility is common during governance events; trade wisely!

The vote, initiated on May 29, 2025, aims to streamline the dYdX Chain’s operations by cutting the validator set to 50. Validators #51–60 hold just 0.14% of total stakeweight and show signs of disengagement, like low uptime (some as low as 80%) and missed blocks. Reducing the set is expected to lower network latency, improve consensus finality, and enhance security by removing underperforming nodes—crucial for a trading-focused chain competing with centralized exchanges (CEXs) [dYdX Foundation, 2025]. Recent NewsIn March 2025, dYdX unveiled a roadmap focusing on stability, speed, and new trading tools, including bi-weekly updates and a revamped mobile app to onboard new users [BeInCrypto, 2025]. This validator reduction aligns with that vision, ensuring the chain can handle high loads efficiently. The ecosystem also saw growth through its Grants Program, funding projects like analytics dashboards and community events [dYdX Grants, 2025]. Future PlansdYdX aims to solidify its lead in the DeFi derivatives market, which remains under 10% of CEX volumes. Upcoming features include expanded trading tools and further governance optimizations, potentially revisiting validator numbers to align with the chain’s economic health [BeInCrypto, 2025]. Onchain DataWhile specific staking metrics for dYdX Chain aren’t publicly detailed here, validators #51–60 collectively hold a mere 0.02% of stakeweight, underscoring their minimal impact [dYdX Foundation, 2025]. Broader stablecoin trends show billions in daily weekend volumes, hinting at growing DeFi activity that dYdX can tap into [Visa Onchain Analytics, 2025]. Community SentimentX reactions are overwhelmingly positive, with users like @Sirus_023 praising dYdX’s community-driven approach and @gutss0x celebrating the power of decentralization. The vote has sparked active engagement, with calls to participate from @CryptoExpressX and others. Risk DisclaimerGovernance votes can lead to short-term price volatility; always DYOR before staking or trading.