Summary
The dYdX Treasury SubDAO has completed an ad hoc review of the Staking Program.
Unlike our periodic reviews, this cycle was driven by validator availability rather than performance. Two validators are leaving the active set, a legacy node was retired, and the largest delegation within the designated proposer set was brought back in line with its peers.
A total of 10,204,150 DYDX was redelegated across 17 transactions on 8 September 2026. Every movement was executed as a redelegation rather than an unbonding: the stake continued earning throughout and never left the bonded state.
Background
The Treasury SubDAO periodically reassesses delegations to ensure that the validator set remains decentralised and resilient, operationally high-performing, economically sustainable, and actively contributing to governance, in alignment with the broader objectives of the dYdX community.
Three developments prompted this cycle:
-
Figment is winding down its dYdX validator operations
-
Imperator.co has been jailed and has confirmed that it is leaving the active set
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Citadel.one’s legacy node was jailed and unbonded
Delegation update
For this rebalance, the Treasury SubDAO considered approximately 90.0M DYDX delegated in total. This figure includes the Staking address, the Buyback address and the Osmosis LP address.
The 10,204,150 DYDX redeployed came from four sources:
| Source | Amount (DYDX) | Reason |
|---|---|---|
| Figment | 3,452,051 | Full exit — winding down |
| Keplr | 3,496,300 | Partial reduction — concentration |
| Imperator.co | 2,437,921 | Full exit — jailed, leaving active set |
| Citadel.one (legacy node) | 817,879 | Full exit — jailed and unbonded |
| Total | 10,204,150 |
Delegation adjustments
The redeployed stake was split 60/40.
60% — 6,122,490 DYDX
Allocated to Bitwise, Stakecito, CLC and Meria, sized from their existing delegations so that all four finish at 4,508,070 DYDX each.
| Validator | Before | Change | After |
|---|---|---|---|
| Bitwise Onchain Solutions | 1,000,000 | +3,508,070 | 4,508,070 |
| Meria | 2,517,758 | +1,990,312 | 4,508,070 |
| CLC | 4,074,139 | +433,931 | 4,508,070 |
| Stakecito Labs | 4,317,893 | +190,177 | 4,508,070 |
40% — 4,081,660 DYDX
Distributed evenly across the seven designated proposers, 583,094 DYDX each. Keplr’s reduction is shown alongside, as it settles at the same level.
| Validator | Before | Change | After |
|---|---|---|---|
| Kingnodes | 4,528,539 | +583,094 | 5,111,633 |
| Solva (CryptoCrew) X Defi Dojo | 4,528,539 | +583,094 | 5,111,633 |
| PRO Delegators | 4,528,539 | +583,094 | 5,111,633 |
| Crosnest | 4,528,539 | +583,094 | 5,111,633 |
| RHINO | 4,528,539 | +583,094 | 5,111,633 |
| Kiln | 4,528,539 | +583,094 | 5,111,633 |
| TTT VN | 4,528,539 | +583,094 | 5,111,633 |
| Keplr | 8,607,933 | −3,496,300 | 5,111,633 |
Following the rebalance, all eight designated proposers, including Keplr, hold an equal Treasury SubDAO delegation of 5,111,633 DYDX.
A note on Citadel.one
Only the legacy node was exited. Citadel.one’s current node is unaffected and retains its 1,725,165 DYDX delegation.
Closing
We are committed to reviewing delegations at least quarterly to encourage continuous improvement and positive contributions. The Treasury SubDAO will continue to monitor discussions across dYdX and review delegations as needed.