According to @dydxfoundation, the community has approved the distribution of Surge Season 9 incentive rewards after a successful governance vote. Source: dYdX Foundation on X, Jan 7, 2026. On-chain records show dYdX Proposal 335 as Passed, confirming that reward payouts to eligible participants can proceed. Source: Mintscan dYdX Proposal 335. For traders, the confirmed distribution schedule signals impending on-chain reward transfers; monitor DYDX spot and perpetual market liquidity, exchange inflows, and funding rates around the payout window for potential volatility. Source: dYdX Foundation on X, Jan 7, 2026; Mintscan dYdX Proposal 335.

According to @dydxfoundation, buybacks were a focus of the December call and 75% of protocol fees are currently routed to DYDX buybacks to reinforce economic security and long-term alignment with token holders, source: dYdX Foundation (X, Dec 29, 2025). For DYDX traders, this policy directly links protocol fee run-rate to recurring buy-side demand from buybacks, creating a measurable input for assessing market impact, source: dYdX Foundation (X, Dec 29, 2025). Monitoring protocol fee trends can therefore help estimate the pace of DYDX buybacks funded by fees, without implying any price outcome, source: dYdX Foundation (X, Dec 29, 2025).

According to @dydxfoundation, dYdX recorded more than $16B in rolling 30-day trading volume, with frequent single days reaching $600M-$800M in turnover (source: dYdX Foundation on X, 2025-12-29). For traders, these reported figures provide a current liquidity and activity baseline to calibrate order sizing and execution on the venue (source: dYdX Foundation on X, 2025-12-29).

According to @tradeparadex, 4.24M XP was distributed across 11,348 wallets for activity during Oct 10–16, reflecting a 1% week-over-week increase, source: Paradex on X, Oct 17, 2025. According to @tradeparadex, 150K XP went to referral codes and affiliates, with 18K XP to be redistributed to referred users, source: Paradex on X, Oct 17, 2025. According to @tradeparadex, 225K XP was allocated to improve liquidity via Quote Quality XP, with details available in their updated documentation, source: Paradex on X, Oct 17, 2025. According to @tradeparadex, Flash Crash Bonus XP included 200K XP for users liquidated or with deep losses and 40K XP for users affected by options delisting, source: Paradex on X, Oct 17, 2025. According to @tradeparadex, Bonus XP is non-dilutive (sourced from slashed and team XP) and is additional to the base 4M weekly XP, source: Paradex on X, Oct 17, 2025.

According to the source, the post references a comparison between Aster and Hyperliquid and claims Binance Chain DEX perpetuals volume is undermining HYPE momentum, but the tweet does not include verifiable metrics or acceptable non-media sources. To deliver a trading-oriented, fully cited summary, please provide concrete figures (timeframe, 24h and 7d perps volume, open interest, funding rates, fee revenue, unique traders) and primary sources such as official protocol dashboards, on-chain analytics (e.g., Dune query IDs), or exchange transparency pages. Because the provided author is a crypto media outlet, attribution will be formatted as “According to the source...” unless you supply an alternative primary source for citation.

According to @KookCapitalLLC, Hyperliquid now has the highest revenue per employee globally, putting exchange efficiency in focus for market participants; source: @KookCapitalLLC on X, Aug 20, 2025. According to @KookCapitalLLC, revenue per employee has been a major investor talking point around Tether for years, making the comparison relevant for crypto valuation narratives; source: @KookCapitalLLC on X, Aug 20, 2025. According to @KookCapitalLLC, increased awareness from traditional finance could drive further attention to Hyperliquid based on this efficiency metric; source: @KookCapitalLLC on X, Aug 20, 2025.