TechFlow reports on January 18 that the dYdX Foundation has released its 2025 Annual Report for the dYdX ecosystem. The report shows that its cumulative trading volume has surpassed $1.55 trillion, with Q4 2025 reaching $34.3 billion—the highest quarterly volume of the year—compared to approximately $16 billion in Q2. On product expansion, dYdX has launched Solana-native spot trading and received governance approval to increase its buyback program to 75% of protocol net revenue. In execution, distribution, and governance, dYdX remains focused on building enduring foundations to support sustained participation and long-term growth as on-chain derivatives continue to mature and expand.
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