Svmuu News: The dYdX Foundation has released the 2025 dYdX Ecosystem Annual Report. The report shows that the cumulative trading volume of the dYdX ecosystem has exceeded $1.55 trillion. The fourth quarter of 2025 was the most active period of the year, with quarterly trading volume rebounding from approximately $16 billion in the second quarter to $34.3 billion. The report covers protocol activity, development, governance, and ecosystem growth. Key developments include: dYdX expanding its distribution channels through integrations with institutional platforms such as CoinRoutes, CCXT, Foxify, and Crypto.com; launching native spot trading on Solana; launched the DYDX buyback program, with governance approving an expansion of the buyback ratio to 75% of the protocol’s net revenue; and reached approximately 98,000 DYDX holders by year-end. Additionally, the report details progress on treasury management, the restructuring of grant programs, and infrastructure upgrades aimed at improving execution consistency.