Overview
- Proposal #313 passed with 59.38% approval in a Nov. 11–13 on‑chain vote, and the new allocation takes effect immediately.
- Under the revised split, 75% of fees fund DYDX buybacks, with 5% directed to the Treasury SubDAO and 5% to the MegaVault.
- Repurchased tokens are reported to be staked to validators, reducing circulating supply, while no definitive burn policy has been announced.
- Nethermind Research backed the shift as a more efficient use of revenue, citing weak MegaVault performance and historical buyback announcements that averaged 13.9% outperformance.
- Analysts estimate the program could retire roughly up to 5% of total supply annually at current prices, though early market reaction was muted and outcomes depend on sustained revenue and execution.