TL;DR
- dYdX released version v9.4 and shifted its affiliate program to a dynamic system based on actual performance.
- Affiliates now start with a 30% commission and can scale up to 50% depending on referred trading volume.
- The DAO no longer manually approves VIP tiers and instead focuses on strategic decisions such as expansion and risk management.
dYdX rolled out the v9.4 update and implemented a performance-based affiliate commission system. The new feature, Sliding Affiliate Fee, replaces the static rewards scheme with a dynamic mechanism that automatically adjusts commissions according to the trading volume generated over the past 30 days.
Before this update, the affiliate program operated under a fixed VIP model that required governance proposals for any adjustment. This created two main issues: the DAO had to dedicate resources to maintaining rewards instead of focusing on strategic decisions, and commission levels did not immediately reflect the real impact of affiliates on trading volume. Version v9.4 removes these frictions by embedding meritocracy directly into the revenue structure.
How Does the New Commission System Work?
With the new system, all dYdX affiliates start with a base commission of 30% on taker fees—double the previous percentage. The sliding scale automatically adjusts commissions based on referred volume over 30 days: up to $1M stays at 30%, between $1M and $10M rises to 40%, and above $10M reaches 50%. This ensures that high-volume affiliates receive the maximum commission immediately and for 30 days, incentivizing sustained and measurable participation.
dYdX Optimizes DAO Resources
The change also streamlines governance. By automating tier updates, the DAO no longer needs to manually approve the VIP affiliate list, freeing resources for strategic decisions such as risk management, market expansion, and protocol development. dYdX leverages code to guarantee economic efficiency and genuine fairness.
This update reflects a mature approach to protocol design. Encoding rewards based on merit and current performance not only increases affiliates’ earning potential but also strengthens dYdX’s infrastructure, making it more competitive and efficient in the perpetuals market.
A commission structure ranging from 30–50% highlights the priority of incentivizing sustainable liquidity and long-term growth. This update consolidates dYdX as one of the most dynamic decentralized protocols, with a tokenomics model that aligns incentives in favor of its community.
