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dYdX Foundation: Since the initiation of the buyback program, a total of $1.87 million worth of DYDX tokens has been repurchased.
BlockBeats News, July 18, the dYdX Foundation tweeted that since launching the DYDX buyback program in March, they have repurchased 2.86 million DYDX tokens worth $1.87 million. The next round will repurchase 593,570 DYDX tokens, and 100% of the repurchased tokens will be used for staking.
Previously reported, on March 24, the dYdX team announced that they would buy back DYDX tokens from the open market using 25% of the monthly net fees from the dYdX protocol, further strengthening their long-term commitment to the ecosystem.
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