dYdX has announced the launch of trading in Telegram along with other updates in an effort to regain market share. The protocol is experiencing a sharp drop in revenues and a contraction in liquidity.
New Goals and Focus on Telegram
The decentralized exchange dYdX published its updated 2025 roadmap, with integration into Telegram and new trader features at the center, against the backdrop of falling revenues.
The platform plans to roll out trading via the messenger as early as September, using Pocket Protector – a social trading app acquired in July. The app’s co-founder, Eddie Zhang, has taken the position of President of dYdX.
Zhang explained the move as necessary to strengthen the exchange’s competitive position and recover market share, pointing to the aim of delivering long-term value for the community.
Financial Losses and Layoffs
According to DefiLlama, dYdX’s revenue for Q2 2025 amounted to $3.2 mln – an 84% drop compared to the same period in 2024, when the protocol earned $20.1 mln. The total value locked (TVL) fell to $312 mln as of August 14. For comparison, in October 2021 the figure exceeded $1.1 bln.
Amid declining revenues, the company laid off 35% of its staff in October 2024. The previous CEO stated that a shift in strategy was necessary.
Updates for Traders
In addition to Telegram integration, dYdX’s roadmap includes technical upgrades:
- A fee-sharing program with partners will allow market makers and large traders to earn up to 50% of protocol fees.
- Scale and TWAP orders will provide more execution options: placing multiple limits within a price range and automatically splitting large trades into timed orders.
- The designated proposers mechanism will assign specific validators to process transactions, reducing delays.
Other planned additions include social authorization, direct USDC–DYDX swaps via Osmosis, and customizable fee tiers to lower user costs.
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