According to @dydxfoundation, the dYdX Foundation hosted its November 2025 Analyst Call covering market structure, protocol performance, and ecosystem strategy; source: @dydxfoundation on X, Nov 27, 2025. According to @dydxfoundation, Nethermind joined as a special guest to share research updates; source: @dydxfoundation on X, Nov 27, 2025. According to @dydxfoundation, the full update for traders is available at https://www.dydx.foundation/blog/dydx-foundation-hosts-november-analyst-call-featuring-nethermind-metrics-milestones-and-whats-next, summarizing metrics, milestones, and what’s next; source: dYdX Foundation blog.

According to dYdX Foundation, an on-chain governance vote has been created to decide whether to extend the 100% trading fee discount (free trading) for BTC-USD and SOL-USD perpetual markets through December 2025 (source: dYdX Foundation, Nov 26, 2025; Mintscan Proposal 320). The vote ends on Nov 28, 2025 at 13:32 UTC, and its outcome will determine if these two markets remain at 0% trading fees through December 2025 (source: dYdX Foundation; Mintscan Proposal 320). For traders, an approved extension would keep trading fees at 0 on BTC-USD and SOL-USD perpetuals, directly reducing execution costs and breakeven thresholds for strategies on these pairs (source: dYdX Foundation; Mintscan Proposal 320). Traders should monitor the proposal page for final results and only adjust venue selection if the 0% fee extension is approved (source: Mintscan Proposal 320).

According to dYdX Foundation, an on-chain vote is live to extend the 100% fee discount (free trading) for BTC-USD and SOL-USD perpetual markets on dYdX through December 2025, with voting scheduled to end on Nov 28, 2025 at 13:32 UTC. Source: dYdX Foundation on X (Nov 26, 2025); Mintscan Proposal 320. If approved, exchange fees on dYdX for BTC-USD and SOL-USD perpetuals would remain at zero through year-end 2025, directly lowering explicit execution costs for traders on those pairs on dYdX. Source: dYdX Foundation on X (Nov 26, 2025); Mintscan Proposal 320. Traders can plan routing and short-term strategies around the event window, as a confirmed extension would keep taker and maker fees at $0 on these contracts on dYdX, reducing breakeven thresholds for scalping, hedging, and cross-venue leg execution on the specified pairs. Source: dYdX Foundation on X (Nov 26, 2025); Mintscan Proposal 320. Key timeline: Vote closes Nov 28, 2025 at 13:32 UTC, and the proposal seeks a policy lasting through December 2025 if enacted. Source: dYdX Foundation on X (Nov 26, 2025); Mintscan Proposal 320.

According to @dydxfoundation, November on dYdX features Surge Season 8 with 50% fee rebates and a 1M DYDX prize pool. According to @dydxfoundation, Trading Leagues launched to provide performance-based rewards that rank traders by results. According to @dydxfoundation, BTC and SOL markets received fee holidays during the month. According to @dydxfoundation, these incentives are intended to deepen engagement and strengthen liquidity while lowering effective trading costs for participants across live markets.

According to dYdX Foundation, cumulative repurchases total over 6.27M DYDX with a stated current market value above $1.71M, source: dYdX Foundation Nov 25, 2025 tweet. The next scheduled buyback tranche is 1.43M DYDX, with the program described as focused on long-term value alignment, source: dYdX Foundation Nov 25, 2025 tweet. Live buyback data and updates are available on the official tracker at buyback.dydx.trade for monitoring execution and size in real time, source: buyback.dydx.trade.

According to @dydxfoundation, the dYdX Foundation released its November 2025 Analyst Call covering the market backdrop and a protocol performance overview for dYdX (DYDX), with timestamps for each section provided, source: dYdX Foundation, Nov 24, 2025. According to @dydxfoundation, the agenda includes dedicated segments on monthly volume, staked supply, buybacks, incentives, fee holidays, MoonPay, affiliates, prediction markets, CCXT, and grants, source: dYdX Foundation, Nov 24, 2025. According to @dydxfoundation, the call also features a guest segment from Nethermind, source: dYdX Foundation, Nov 24, 2025.

According to @dydxfoundation, the dYdX community approved setting the liquidity tier to 2 for FARTCOIN, RAYDIUM and PUMP perpetual markets. Source: https://twitter.com/dydxfoundation/status/1992004104424735119 https://www.mintscan.io/dydx/proposals/319 This Tier 2 classification applies the chain’s risk framework for margin requirements and position size limits on these perps, which traders should reference before adjusting leverage and sizing. Source: https://docs.dydx.community https://www.mintscan.io/dydx/proposals/319

According to @dydxfoundation, Permissioned Keys are now live on the dYdX frontend, enabling teams to manage trading access more securely by assigning roles, permissions, and controls with ease; source: dYdX Foundation on X, Nov 21, 2025. The feature delivers role-based access for team trading directly on the frontend, with permissions and controls managed in one place; source: dYdX Foundation on X, Nov 21, 2025.

According to dYdX Foundation, the community appoints and rotates designated proposers, and this governance oversight contributes to a low-latency, CEX-like trading experience on dYdX, which is directly relevant to execution-sensitive trading strategies (source: dYdX Foundation, X, Nov 20, 2025). For active traders, the Foundation’s emphasis on proposer rotation highlights an operational design intended to reduce latency for order execution on dYdX (source: dYdX Foundation, X, Nov 20, 2025).

According to @dydxfoundation, an on-chain governance vote is live to approve setting the liquidity tier to 2 for the FARTCOIN, Raydium (RAY), and PUMP markets on dYdX Chain, source: @dydxfoundation; Mintscan dYdX Proposal 319. The vote closes on Nov 21, 2025 at 15:04 UTC, source: @dydxfoundation; Mintscan dYdX Proposal 319. If passed, the liquidity tier parameter for these markets will be updated as defined in Proposal 319, a change traders monitor for its impact on market configuration and trading conditions on dYdX, source: Mintscan dYdX Proposal 319; dYdX Chain governance documentation.

According to @dydxfoundation, the dYdX Treasury SubDAO has published its October 2025 monthly update outlining recent activity and forward-looking items on the official forum at https://dydx.forum/t/dydx-treasury-subdao-community-update-october-2025/4811. Source: https://twitter.com/dydxfoundation/status/1991089784249541076; https://dydx.forum/t/dydx-treasury-subdao-community-update-october-2025/4811 For trading, this confirms new official treasury disclosures are available for DYDX participants to review directly on the forum, which is the canonical location for full details. Source: https://dydx.forum/t/dydx-treasury-subdao-community-update-october-2025/4811; https://twitter.com/dydxfoundation/status/1991089784249541076 Traders should reference the forum post for verifiable figures and any forward-looking items that could inform DYDX position sizing and liquidity considerations. Source: https://dydx.forum/t/dydx-treasury-subdao-community-update-october-2025/4811

According to @dydxfoundation, validators from Kingnodes and Rhinostake explain that the dYdX Order Entry Gateway gives all traders the same low-latency access to the dYdX network to level the playing field for order submission and execution, source: @dydxfoundation. According to @dydxfoundation, this update was shared via an official X post on Nov 19, 2025, confirming the gateway’s goal of uniform connectivity across participants, source: @dydxfoundation.

According to @dydxfoundation, the community approved setting the default funding rate to 0 for FARTCOIN, RAYDIUM (RAY), PUMP, and ZORA markets on dYdX, as recorded under Governance Proposal 318. Source: @dydxfoundation; Mintscan Proposal 318. This parameter change means these perpetual markets will have a zero default funding setting, removing any preset positive or negative funding bias defined by that default parameter. Source: @dydxfoundation; Mintscan Proposal 318. Funding payments on dYdX perpetuals are periodic transfers between longs and shorts designed to keep contract prices anchored to the index, so a zero default setting neutralizes the preset component of those payments for these markets. Source: dYdX Documentation.

According to @dydxfoundation, the community approved setting the default funding rate to 0 for TAO-USD, TRUMP-USD, USUAL-USD, WLFI-USD, XMR-USD, XPL-USD, ZEC-USD and ZEN-USD perpetual markets on dYdX, Source: dYdX Foundation on X, Nov 19, 2025; Mintscan Proposal 317. Traders can verify the approved parameter change via the governance record to inform funding and basis checks for these instruments, Source: Mintscan Proposal 317; dYdX Foundation on X, Nov 19, 2025.

According to dYdX Foundation, EG from dYdX Arena is a long-standing dYdX community validator and part of the team building dYdX Arena (source: dYdX Foundation on X, Nov 17, 2025). The segment introduces his background, how he entered the ecosystem, and highlights the growth of community-run dYdX trading competitions on the platform (source: dYdX Foundation on X, Nov 17, 2025).

According to @dydxfoundation, an on-chain governance vote has been opened to set the default funding rate to 0 for the FARTCOIN, RAYDIUM, PUMP, and ZORA perpetual markets on dYdX, with voting closing on Nov 19, 2025 at 06:25 UTC; source: dYdX Foundation on X; Mintscan Proposal 318. The parameter change is formally tracked as Proposal 318 on the dYdX Chain, where token holders can review the details and cast votes; source: Mintscan Proposal 318; dYdX Foundation on X. If approved, the protocol-level default funding rate for these markets would be set to zero, establishing the baseline for funding payments on those perps; source: Mintscan Proposal 318; dYdX documentation.

According to @dydxfoundation, an on-chain governance vote on the dYdX Chain proposes setting the default funding rate to 0 for TAO, TRUMP, USUAL, WLFI, XMR, XPL, ZEC and ZEN markets (source: https://twitter.com/dydxfoundation/status/1990317430674166007; source: https://www.mintscan.io/dydx/proposals/317). The vote ends on Nov 19, 2025 at 06:19 UTC (source: https://twitter.com/dydxfoundation/status/1990317430674166007). If approved, the default funding rate parameter for these dYdX markets would be set to 0 as specified in the proposal (source: https://www.mintscan.io/dydx/proposals/317).

According to @dydxfoundation, governance proposal 313 has been approved with 59.38% of community voters endorsing an increase of the DYDX buyback allocation to 75% of net protocol revenue. source: dYdX Foundation; Mintscan Proposal 313 Under the approved allocation, 75% of net protocol fees will be used for open-market purchases of the DYDX token. source: dYdX Foundation; Mintscan Proposal 313 Additionally, 5% of net fees will be redirected to the MegaVault and 5% to the Treasury SubDAO. source: dYdX Foundation; Mintscan Proposal 313 This policy directs the majority of protocol fee revenue into DYDX market purchases, linking buyback volume directly to fee generation. source: dYdX Foundation; Mintscan Proposal 313

According to @dydxfoundation, the community approved setting the default funding rate to 0 for PAXG-USD, PENGU-USD, POL-USD, POPCAT-USD, PUMP-USD, SPX-USD, S-USD, and SYRUP-USD via governance proposal 316 (source: dYdX Foundation on X, Nov 17, 2025; source: Mintscan dYdX Proposal 316). For traders, a 0 default funding rate means no baseline funding payment between longs and shorts at initialization for these markets, aligning with how dYdX defines funding payments as transfers determined by the funding rate parameter (source: dYdX Foundation on X; source: dYdX Chain Docs – Funding Payments). This parameter update applies specifically to the listed dYdX markets and takes effect per the on-chain governance outcome, impacting carry and hedging only insofar as the protocol’s default funding rate is now zero for these pairs until further governance changes (source: Mintscan dYdX Proposal 316; source: dYdX Chain Docs – Funding Payments).

According to @dydxfoundation, the community approved setting the default funding rate to 0 for EIGEN, ENA, HYPE, KAITO, MNT, MORPHO, MOVE, and ONDO perpetual markets on dYdX; Source: dYdX Foundation on X (Nov 17, 2025) and Mintscan proposal 315 https://www.mintscan.io/dydx/proposals/315. This update sets the default funding rate parameter to zero for these pairs, a setting that determines the baseline periodic payment between longs and shorts when the default applies; Source: dYdX Foundation on X (Nov 17, 2025) and Mintscan proposal 315 https://www.mintscan.io/dydx/proposals/315. For traders, a 0% default funding rate means no initial funding transfer under the default condition, keeping carry neutral until market-calculated funding deviates, which can reduce early carry costs; Source: dYdX Docs on funding rate mechanics https://docs.dydx.community.