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).