DeFi platform dYdX plans Telegram trading in roadmap update as earnings slide

Decentralized exchange dYdX has updated its 2025 roadmap, outlining plans to launch a Telegram trading integration as the platform faces declining earnings.

According to the roadmap, dYdX plans to roll out a series of software upgrades that include a partner fee share, scale and TWAP orders and designated proposers, targeting the reduction of end-to-end trading latency.

In addition, the DEX plans to launch Telegram-based trading in September, enabled by its July acquisition of Pocket Protector, a social trading app. As part of the deal, Pocket Protector co-founder Eddie Zhang joined dYdX as president.

“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 in the past 12 months. According to DefiLlama, dYdX posted earnings of $3.2 million in the second quarter of 2025, a 84% decline compared to the same period of 2024, when it generated $20.1 million income.

Income statement for dYdX. Source: DefiLlamaIts total value locked has fallen to $312 million as of Wednesday, from $1.1 billion in October 2021. In October 2024, dYdX laid off 35% of its workforce, with its then-CEO indicating a need for a new direction.

dYdX targets incentives, efficiency and UX in update

According to dYdX, the partner fee share program will let contributors of volume and liquidity earn up to 50% of protocol fees. Scale and TWAP orders are said to offer traders more execution options, enabling multiple limits across a price range and splitting large trades into smaller timed intervals.

Meanwhile, the designated proposers feature is said to cut processing times by assigning specific validators and reducing latency.

The roadmap also highlights new user-facing features, including social logins, direct USDC–DYDX swaps via an Osmosis integration, and customizable fee tiers promising reduced trading fees.

Related: $70B DeFi protocol Aave goes live on Aptos in ecosystem expansion

DeFi heats up in 2025

The decentralized finance sector has heated up in 2025. According to DefiLlama, the total TVL across all blockchains and ecosystems reached $158.2 billion on Thursday, up from $115.9 billion on Jan. 1 and representing a 36.5% a rise year-to-date.

Ethereum remains the dominant blockchain for DeFi as it accounts for $93.9 billion or 59.4% of the total value onchain.

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