dYdX Foundation's December 18, 2025 Analyst Call: $16.1B Volume, Surge 9 Incentives
On December 18, 2025 in Zug, the dYdX Foundation held its Monthly Analyst Call with dYdX Labs, outlining recent performance and governance moves. Over the latest 30 days, the protocol saw $16.1 billion in perpetual volume and daily activity of $600–800 million, while approving Surge Season 9 with a 50% fee rebate and a $1 million incentive program. The month also added Solana spot trading with U.S. access and a BONK partnership that shares 50% of fees with the BONK DAO.