Dydx, the decentralized decentralized decentralized token, jumped almost 7% to $ 0.72 after the platform introduced a buyout program, devoting 25% of its monthly protocol costs to buy token on the free market.
This decision is part of a broader effort to strengthen the role of the token in the safety and economic model of the network in the middle of a prolonged downward trend for Dydx, which has lost more than 78% of its value in the last 12 months.
Affairs mark a change in the way Dydx allocates its protocol revenues, 40% going to stakers, 25% to the new program, 25% to its market support megavault and 10% to Treasury initiatives.
The scholarship said $ 46 million in net protocol income in 2024, compared to more than 270 billion dollars in negotiation volume, according to a press release. Discussions on governance already explore the possibility of increasing the share of buyout up to 100% of the protocol costs.
The tokens purchased as part of the program should be marked out for “an extended period to improve network security,” said a Dydx representative in Coindesk.
The token supply dynamics also change, the emissions that should decrease in half from June. Most Dydx tokens have already been unlocked, the rest planned in mid-2016, according to the press release.
A pending proposal can also eliminate Dydx tokens not bordered with Ethereum from traffic if it is not transferred to the Dydx 1 layer by June.
