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dYdX’s 2025 roadmap focuses on growth via a Telegram trading launch, partner fee-share, and latency reductions to restore revenue. The plan pairs social trading and execution upgrades to boost volume and user experience while addressing a steep earnings decline.
Telegram trading launch in September 2025
Partner fee-share, TWAP and designated proposers to cut latency and reward liquidity providers
Total TVL down to $312M; Q2 2025 earnings fell to $3.2M per DefiLlama
Meta description: dYdX 2025 roadmap details Telegram trading, fee-share and latency cuts to revive revenue — read the concise roadmap summary and trader impact.
DYdX is recovering from an up-and-down 2024, where the DEX laid off 35% of its workforce in October.
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Decentralized exchange dYdX has updated its 2025 roadmap, outlining plans to launch a Telegram trading integration as the platform faces declining earnings.
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According to the roadmap, dYdX plans software upgrades including a partner fee share, scale and TWAP orders, and designated proposers to reduce end-to-end trading latency.
In addition, the DEX plans to launch Telegram-based trading in September following its July acquisition of Pocket Protector, a social trading app. Pocket Protector co-founder Eddie Zhang joined dYdX as president.
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“It is critical for dYdX to strengthen its competitive positioning in order to increase market share and deliver long-term value to the community and ecosystem,” Zhang wrote in the roadmap letter.
The DEX’s income has largely slid over the past 12 months. Per DefiLlama, dYdX posted earnings of $3.2 million in Q2 2025, an 84% decline from $20.1 million in Q2 2024.
Income statement for dYdX. Source: DefiLlama
Its total value locked (TVL) has fallen to $312 million as of Wednesday, down from $1.1 billion in October 2021. In October 2024, dYdX cut 35% of staff amid calls for a strategic reset.
What does the dYdX 2025 roadmap prioritize?
The dYdX 2025 roadmap prioritizes user growth, lower latency and improved monetization through a partner fee-share, order execution tools (scale and TWAP), and a Telegram trading interface. These measures aim to increase volume and reduce friction for traders in the short to medium term.
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How will partner fee-share and trading tools affect users?
The partner fee-share program can allocate up to 50% of protocol fees to contributors of volume and liquidity, incentivizing market makers. Scale and TWAP orders will let traders split large trades and set multiple limits across a price range, improving execution and reducing slippage.
Why does dYdX plan designated proposers?
Designated proposers assign specific validators to process transactions, which should cut processing time and end-to-end latency. Shorter latency improves price execution and competitiveness against centralized venues and other DEXs.
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When will Telegram trading and social features arrive?
dYdX intends to enable Telegram-based trading in September 2025, leveraging its July acquisition of Pocket Protector. The rollout pairs social logins and USDC–DYDX swaps through an Osmosis integration to simplify on-ramps and in-app trading flows.
How severe is the revenue and TVL decline?
dYdX earnings dropped sharply year-over-year. DefiLlama reports Q2 2025 revenue of $3.2M vs. $20.1M in Q2 2024. TVL decreased to $312M from $1.1B in October 2021, reflecting user migration and lower protocol activity.
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Selected comparative metrics
Metric
Oct 2021
Q2 2024
Q2 2025
Total Value Locked (TVL)
$1.1B
—
$312M
Quarterly Earnings
—
$20.1M
$3.2M
Layoffs
—
—
35% workforce cut (Oct 2024)
What does this mean for DeFi in 2025?
DeFi activity is rising overall: DefiLlama reports total TVL across blockchains at $158.2 billion, up from $115.9 billion on Jan. 1, a 36.5% YTD increase. Ethereum remains dominant with $93.9 billion or 59.4% of on-chain TVL.
Frequently Asked Questions
How will Telegram trading work on dYdX?
Telegram trading will enable users to execute trades through a Telegram interface tied to dYdX accounts, supported by social logins and integrated liquidity paths. The feature targets simplified access and social discovery for retail traders.
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Can liquidity providers earn more with the partner fee share?
Yes. The partner fee-share can distribute up to 50% of protocol fees to volume and liquidity contributors, creating stronger incentives for market makers and referral partners to route trades to dYdX.
Will these updates lower trading fees?
dYdX plans customizable fee tiers and direct USDC–DYDX swaps via Osmosis, which could reduce on-chain fees for certain user segments and improve net cost of trading.
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Key Takeaways
Product focus: Telegram trading and social features aim to broaden access.
Incentives: Partner fee-share allows up to 50% of fees to go to contributors.
Performance: Designated proposers and TWAP/scale orders target latency and execution quality.
Conclusion
The dYdX 2025 roadmap combines social trading, fee incentives and technical upgrades to address steep revenue declines and a smaller TVL. If executed, the plan could improve user acquisition and execution quality while restoring protocol revenue growth. Monitor official dYdX communications and DefiLlama metrics for updates.
