dYdX Buyback Program Surpasses $1.8M, Adds to Staking Pool

The initiative, funded by 25% of protocol transaction fees, is designed to support staking and enhance network security. An additional […]

The post dYdX Buyback Program Surpasses $1.8M, Adds to Staking Pool appeared first on Coindoo.

The initiative, funded by 25% of protocol transaction fees, is designed to support staking and enhance network security.

An additional 593,570 DYDX will be acquired in the next round, all of which will be staked.

The program, approved by community proposals #225 and #231, was initiated by the Treasury SubDAO to redistribute value to the ecosystem.

   

 

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To date, the protocol has generated $5.05 million in fees, with 1.25 million buyback tokens already staked.

Total staked DYDX across the network now stands at over 295 million, offering an estimated annual yield of 3.08%.

The post dYdX Buyback Program Surpasses $1.8M, Adds to Staking Pool appeared first on Coindoo.

 

Source: https://coindoo.com/dydx-buyback-program-surpasses-1-8m-adds-to-staking-pool/

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