Decentralized derivatives platform dYdX announced that it will eliminate both maker and taker fees for its Bitcoin (BTC) and Solana (SOL) perpetual markets starting in November 2025, following approval by its community governance channel. The change, enabled via its protocol v9.4 upgrade, allows users to trade these popular contracts without the usual fee burden.
This fee-free initiative is part of a broader incentive campaign, which also includes a $1 million trader prize pool and 50% fee rebates on other perpetual markets until year-end. The move is aimed at increasing liquidity, attracting higher-volume participation, and positioning the protocol more competitively against centralized exchanges.
Observers say the decision underlines how decentralized platforms are using governance-driven economics to challenge traditional fee models and stimulate more active derivatives ecosystems.
