Summary
The dYdX Treasury SubDAO has completed its fifth periodic review of the Staking Program. This cycle continued our structured approach to validator oversight, with emphasis on governance participation, performance, and decentralisation metrics.
All redelegations resulting from this review have been fully executed.
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, aligned with the broader objectives of the dYdX community.
This review incorporates updated validator performance and uptime data, revised weighting of scoring criteria, changes to the amount of DYDX under the Treasury SubDAO management, the fully executed undelegation request from the Operations SubDAO, and a redistribution of stake designed to smooth concentration and broaden participation across the validator set.
To be considered for delegation, a validator must operate in Japan. In terms of governance engagement, validators who consistently vote only “abstain” without directional input were treated as limited governance engagement within our scoring framework. While abstention remains a valid voting option, repeated abstentions alone were not considered sufficient evidence of active governance contribution.
Delegation update
For this rebalance, we considered approximately 82M DYDX delegated in total.
This figure includes:
- ~69M DYDX from the Staking address
- ~13M DYDX from the Buyback address
Delegation Adjustments
Below are the delegation changes executed in this rebalance:
| Validator | Delegation Change (DYDX) |
|---|---|
| Nansen | Stake to Stack Points |
| OKX Earn | –1,930,723.33 |
coinhall.org   |
–1,250,270.92 |
| Blockdaemon | –1,114,632.04 |
Smart Stake  |
–736,978.52 |
| OWALLET | –726,188.87 |
AutoStake  Slash Protected |
–79,263.52 |
| Crosnest | +11,673.48 |
| CryptoCrew X Defi Dojo | +63,544.35 |
| Cosmostation | +352,016.78 |
| Imperator.co | +370,104.48 |
| Cosmic Validator | 100% Uptime |
| Kiln | +432,183.48 |
| Keplr | +432,183.48 |
| Allnodes | +449,941.48 |
| Meria | +449,941.48 |
| Citadel.one | +475,227.48 |
| Ledger by Meria | +509,338.48 |
DragonStake  |
+527,584.26 |
Lavender.Five Nodes  |
+720,000.00 |
| DELIGHT | +754,707.85 |
| PRO Delegators | +863,383.00 |
| Nodes.Guru | +947,453.48 |
| Chorus One | +1,000,000.00 |
| Luganodes | +1,143,162.85 |
Interstellar  |
+1,143,162.85 |
| Informal Systems | +1,174,094.31 |
| Stakecito | +1,183,707.13 |
Kingnodes  |
+1,638,677.48 |
| Silk Nodes | +1,741,859.00 |
| Figment | +2,041,859.00 |
RHINO  |
+2,085,120.48 |
| TTT VN | +2,251,197.48 |
| CLC | +3,005,164.90 |
| polkachu.com | +3,541,858.99 |
| Enigma | +3,541,859.00 |
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.