In 2025, DYDX (@dYdX) finally remembered to use transaction fees to buy back 100% of $DYDX. As an old-school PERP, why has it been so virtually invisible all these years? Looking at the data again, DYDX's revenue over the past 30 days was only $1.64M. Compared to its $330 million FDV, how can it possibly buy back anything worthwhile? 🤡
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