I think dYDX is turning the wheel on a high speed. It doesn’t really matter if I get 50% of the yield or 95%. It’s important to not give away millions of tokens to people who sell them instantly. Until we see price changes without these stupid giveaways it’s challenging to predict what the next move should be.
The incentives giveaway has attracted bounty hunters only. So far I’ve received 5 times more dYdX for being lucky, than for steady trading every minute for a year.
Discounts based on a staking are great reason to stake. It’s shame rewards are not linked with staking and month-over-month (quarter over quarter is better) activities.
Please note some of unstaked tokens are consolidation events. I’ve unstaked a lot of tokens from dead accounts to get a trading fee discount on the main account.
We can submit it this week. However I would like to see more inputs from our validators.
I remember during the call on Designated Proposers, Jerome @kingnodes and Eric @usurper touched that the value should be returned back to token holders. It would be nice to hear their opinion here too.
If we’re already discussing redirecting the share to stakers, could we also include a point about reducing the lock period from 21 days to 7 days? The community would react positively to this small change
I think we can set the pledge and repurchase ratio at 50/50 and shorten the pledge period. Repurchase is a continuous buying, and it shouldn’t be completely eliminated.
Did you read the proposal above: ‘Recent experience with the 75% buybacks / 15% staking structure showed limited price impact and rising unstaked supply. In contrast, competitor protocols that distribute revenue directly to stakers have stronger performance, clearer valuations and higher user participation. I need to mention that, 25% buybacks which were already introduced in early 2025, didn’t deliver any positive results and since then the price just went more down and unstaked supply raised, increasing circulating supply and pressure on price.’
Protocols you are talking about didn’t sent 1kk USD worth of tokens monthly to bounty hunters via exploitable programs and their vaults haven’t lost so much money.
There is one thing which doesn’t allow to properly assess the impact of current buyback settings of 75% fees on token price - low fees which apparently because of Fees Holidays for major markets - BTC, ETH, SOL
@nethermind how can you make a proposal - increase fees towards buybacks - and after that submit another one which totally contradicts the first one - Fees Holidays for the main trading pairs which generate the major portion of protocol fees?
I’m guessing @nethermind still thinks that there is inflation in dYdX, so they may be thinking that the 75% for buybacks is currently in action, and they think the trading fee revenue and the fee holidays is not related to buybacks and revenue for stakers and validators?
ETH its not inside the holidays fee its the only one market that generate profit for dydx.If compared with previous month and trading volume and fees are in the half size.Holiday fees are bringing volume but not profit.Also it seems the cancellation of surge reward program also affected negative and volume and fees.So the team has to rethink all the above.Maybe some future incentives they have to be in USDC and not in dydx for dont bring pressure in dydx price when they are sold. Also without incentives its very difficult to stay out there when the competition its huge . Traders and validators they both are needed for keep the platform alive.Without volume and without security of network cannt work nothing.So the team has to think for both of them
No one will buy tokens that don’t yield staking rewards. Restoring their original function will attract more funds for staking. Additionally, it can also reduce selling. There’s no real difference between buying back at 75 or 25.
If the staking reward its not like cosmos hub for atom , around 15% its no sense to stake for get 1-2%.Special when the token’s price is so little and keep going down.Maybe the team should think what they do in cosmos hub and try to achieve the same.Of course they are different chains and cosmos its more powerfull but this is the main idea to try make the reward stable around 15%
we should return to 100% for stakers, even the price go to 0,01 we still get rewarding by the fees of the protocol, buyback dont work look at hyperliquid they make millions of buyback but its not enoungh to keep the price up. We make 1,5 millions $ of buyback… its useless, 35millions of dydx unstake since de new buyback program…
