The decentralized exchange dYdX has updated its development roadmap for 2025, with important plans including the launch of Telegram trading integration. Despite a decline in platform revenue, dYdX is still actively positioning itself.
According to the roadmap, dYdX plans to launch a series of software upgrades, including partner fee sharing, volume and time-weighted average price orders, and designated proposer features to reduce trading latency.
Additionally, through the acquisition of the social trading app Pocket Protector in July, dYdX plans to launch Telegram-based trading in September. Pocket Protector's co-founder, Zhang Aidi, has joined dYdX as president. In his letter, he stated that enhancing competitiveness is crucial for dYdX to increase its market share and bring long-term value to the community and ecosystem.
Over the past year, dYdX's revenue has significantly decreased. According to DefiLlama data, in the second quarter of 2025, the platform's revenue was $3.2 million, down 84% from $20.1 million in the same period of 2024.
As of Wednesday, dYdX's total locked value has declined to $312 million, a significant reduction from $1.1 billion in October 2021. In October 2024, dYdX laid off 35%, with the then-CEO stating a need for a directional shift.
dYdX focuses on incentives, efficiency, and user experience
The partner fee sharing program introduced by dYdX allows users contributing trading volume and liquidity to earn up to 50% of protocol fees. Volume and time-weighted average price orders provide more execution options, while the designated proposer feature reduces processing time and latency through specific validators.
At the same time, new user features are also in development, including social login, direct USDC-DYDX swaps via Osmosis, and customizable fee layers to reduce trading costs.
The DeFi space is heating up in 2025
In 2025, the DeFi industry is heating up. According to DefiLlama, the total locked value across all blockchains and ecosystems has reached $158.2 billion, a 36.5% increase since the beginning of the year.
Ethereum remains the dominant blockchain in DeFi, accounting for $9.39 billion or 59.4% of the total value.