According to dYdX Foundation, 2025 marked a shift toward more durable participation as liquidity, execution quality, and incentives increasingly reinforced one another, signaling a trading-focused emphasis on depth and fill reliability for market participants (Source: dYdX Foundation tweet, Jan 15, 2026; ecosystem.report/dydx). The organization states that its full report details structural changes positioning dYdX heading into 2026, which is relevant for traders evaluating DYDX exposure and venue selection on derivatives DEXs (Source: dYdX Foundation tweet, Jan 15, 2026; ecosystem.report/dydx). Traders are directed to the full report to evaluate how the updated incentive design and execution-quality focus may affect trading conditions on dYdX in 2026 (Source: dYdX Foundation tweet, Jan 15, 2026; ecosystem.report/dydx).

According to @dydxfoundation, targeted incentives like Fee Holidays produced 2-3x trading volume increases on core markets, source: dYdX Foundation on X, Jan 15, 2026. The foundation also stated that dYdX Surge and Trading Leagues were designed to reward sustained, high-quality participation, source: dYdX Foundation on X, Jan 15, 2026. These reported outcomes indicate program periods have coincided with elevated activity on core markets, which is relevant for traders timing execution and liquidity needs, source: dYdX Foundation on X, Jan 15, 2026.

According to dYdX Foundation, distribution broadened through ecosystem-aligned channels and the affiliate program remained a meaningful source of flow, contributing approximately $17 billion in trading volume in 2025—source: dYdX Foundation on X, Jan 15, 2026. For traders, this confirms that affiliate-driven order flow was a significant component of dYdX (DYDX) market activity in 2025—source: dYdX Foundation on X, Jan 15, 2026.

According to dYdX Foundation, native Solana (SOL) spot trading is now live on dYdX, enabling integrated spot and perps workflows on the platform as of Jan 15, 2026 (source: dYdX Foundation). The announcement confirms that spot and perpetuals can be managed together on dYdX (source: dYdX Foundation).

According to dYdX Foundation, dYdX’s cumulative all-time trading volume surpassed $1.55 trillion, per its X post on Jan 15, 2026: https://twitter.com/dydxfoundation/status/2011801632153964547. Q4 2025 activity reached about $34.3 billion versus roughly $16 billion in Q2 2025, making Q4 the strongest quarter of the year and reflecting an approximately 114% rebound, per the same source: https://twitter.com/dydxfoundation/status/2011801632153964547. The post describes 2025 as a reset-then-reacceleration period typical of maturing markets, per dYdX Foundation: https://twitter.com/dydxfoundation/status/2011801632153964547.

According to @dydxfoundation, governance has launched and scaled protocol buybacks to 75% of protocol revenue, directly linking buyback activity to trading activity on the network, source: @dydxfoundation, Jan 15, 2026. The foundation stated that these alignment mechanisms scale alongside usage to reinforce network security and long-term sustainability, source: @dydxfoundation, Jan 15, 2026. For traders, this update ties protocol revenue to buyback intensity and underscores the connection between market volumes and protocol economics, source: @dydxfoundation, Jan 15, 2026.

According to dYdX Foundation, it has released the 2025 dYdX Ecosystem Annual Report with a full-year view of trading activity, protocol development, governance progress, and ecosystem growth across the dYdX ecosystem. Source: dYdX Foundation X post dated Jan 15, 2026; Full report: ecosystem.report/dydx. According to dYdX Foundation, the announcement directs market participants to ecosystem.report/dydx as the primary reference for detailed metrics and documentation on the dYdX ecosystem. Source: dYdX Foundation X post dated Jan 15, 2026; Full report: ecosystem.report/dydx. According to dYdX Foundation, the highlighted sections on trading activity and governance progress are directly relevant for traders monitoring market conditions and policy changes around the dYdX ecosystem and DYDX markets. Source: dYdX Foundation X post dated Jan 15, 2026; Full report: ecosystem.report/dydx.

According to @dydxfoundation, an on-chain governance vote is live to decide whether to approve adding order router revenue share for Coinner, with the vote ending on Jan 17, 2026 at 07:56 UTC. Source: dYdX Foundation on X, Jan 15, 2026. The foundation linked the discussion thread titled DRC Coinner order router rev share proposal for community context. Source: dYdX Foundation on X, Jan 15, 2026. The on-chain item is referenced as Mintscan dYdX Proposal 337, which the foundation included in the announcement for vote tracking. Source: dYdX Foundation on X, Jan 15, 2026.

According to @dydxfoundation, the dYdX Foundation hosted a discussion with validators Kingnodes and Rhinostake to explain the Designated Proposers mechanism on dYdX (source: dYdX Foundation on X, Jan 13, 2026). The video focuses on block times and network latency and why these factors matter for traders who expect button-press execution to just work on dYdX (source: dYdX Foundation on X, Jan 13, 2026). It is positioned as everything traders need to know about how Designated Proposers relate to the execution experience on dYdX (source: dYdX Foundation on X, Jan 13, 2026). The content is delivered as a video resource shared directly by the dYdX Foundation (source: dYdX Foundation on X, Jan 13, 2026).

According to @dydxfoundation, the community approved the second distribution of the Liquidation Rebates Pilot Program on the dYdX Chain. Source: twitter.com/dydxfoundation/status/2010651515598627200. Mintscan confirms Proposal 336 passed and records the on-chain governance result for the second distribution approval. Source: mintscan.io/dydx/proposals/336.

According to @dydxfoundation, dYdX Labs and Foundation leaders used their December Analyst Call Q&A to highlight 2026 priorities of unified spot and derivatives trading, sustained DEX market share growth, and broader partner and institutional engagement, shared via a video post on Jan 12, 2026, source: @dydxfoundation on X, Jan 12, 2026. For trading workflows, unified spot and derivatives trading means both markets are accessible on the same protocol, aligning execution and risk management within one venue for the dYdX ecosystem, source: @dydxfoundation. The emphasis on sustained DEX market share growth directs traders to monitor on-chain liquidity depth, trading volumes, and fee competitiveness across DYDX-linked venues when assessing execution quality, source: @dydxfoundation. The focus on broader partner and institutional engagement highlights a push to serve professional order flow within the dYdX ecosystem, which is a relevant market structure signal for DYDX participants, source: @dydxfoundation.

According to dYdX Foundation, the team held in-person discussions in December with traders and institutions on execution, routing, and what’s next for onchain derivatives at a Solana Breakpoint side event with CoinRoutes and at Tokenized Summit with Gamma Prime; source: dYdX Foundation on X, Jan 9, 2026. According to dYdX Foundation, it also stated it looks forward to more in-person engagements in 2026; source: dYdX Foundation on X, Jan 9, 2026.

According to dYdX Foundation, an on-chain governance vote is live to approve the second distribution of the Liquidation Rebates Pilot Program for the dYdX chain. Source: dYdX Foundation (X), dYdX Forum, Mintscan. The vote closes on Jan 10, 2026 at 06:05 UTC, setting a clear near-term governance timeline for DYDX market participants. Source: dYdX Foundation (X), Mintscan. Further details and tracking are available via the dYdX forum thread and Mintscan Proposal 336. Source: dYdX Forum, Mintscan.

According to dYdX Foundation, the community approved the distribution of Surge Season 9 incentive rewards via dYdX Chain governance proposal 335; source: x.com/dydxfoundation/status/2009213626335514812, mintscan.io/dydx/proposals/335. Mintscan shows proposal 335 in Passed status, confirming authorization to distribute Season 9 rewards as specified in the proposal; source: mintscan.io/dydx/proposals/335. The announcement was posted on January 8, 2026, providing official confirmation that Season 9 rewards will be distributed to eligible participants per the proposal; source: x.com/dydxfoundation/status/2009213626335514812.

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, the dYdX Foundation completed its latest stake delegation rebalance effective December 19, 2025, with the stated aim of strengthening the decentralisation, security, and performance of the dYdX Chain, as announced on January 5, 2026. Source: dYdX Foundation tweet. The Foundation directs stakeholders to its December 2025 staking delegation update for validator allocation details relevant to DYDX staking and governance decisions. Source: dYdX Foundation blog update titled Staking Delegation Update — December 2025.

According to @dydxfoundation, the dYdX Foundation completed its latest stake delegation rebalance effective December 19, 2025, to strengthen the decentralisation, security and performance of the dYdX Chain, source: https://twitter.com/dydxfoundation/status/2008147398183514381. The Foundation published a December 2025 staking delegation update with further details, source: https://www.dydx.foundation/blog/staking-delegation-update---december-2025.

According to @dydxfoundation, dYdX Labs President @epic_edge_ said the long-term strategy is to build resilient, high-performance market infrastructure that combines deep liquidity, fast order books, and broad distribution to support professional trading at scale on-chain (source: @dydxfoundation on X, Jan 5, 2026). This post highlights dYdX’s priority on liquidity depth, order book speed, and distribution coverage to serve professional traders on-chain (source: @dydxfoundation on X, Jan 5, 2026).

According to dYdX Foundation, an on-chain vote has been created on whether the community should approve the distribution of Surge Season 9 incentive rewards for DYDX, with voting ending on Jan 4, 2026 at 15:19 UTC. source: dYdX Foundation on X, Jan 3, 2026 The proposal details and the voting interface are provided via the dYdX Forum proposal page and Mintscan Proposal 334. source: dYdX Foundation on X; dYdX Forum; Mintscan

According to dYdX Foundation, Surge Season 9 incentives are continuing into January 2026 with 50 percent fee rebates, a 1 million dollar liquidation rebate pool, and fee holidays on BTC and SOL trading pairs. According to dYdX Foundation, the exchange is carrying December incentives into the new year, enabling active traders to lower execution costs on BTC and SOL during the fee holiday period.