According to @dydxfoundation, December incentives under Surge Season 9 include 50% fee rebates for UI and API traders, a $1M liquidation rebate to soften volatility impacts, and extended BTC and SOL fee holidays (source: @dydxfoundation, Dec 29, 2025). The same source specifies these incentives are live for December on dYdX and are aimed at reducing trading costs and mitigating liquidation-related losses during volatile conditions (source: @dydxfoundation, Dec 29, 2025).

According to dYdX Foundation, dYdX Governance is considering a proposal to distribute $100,000 in DYDX to the top 100 traders most impacted by realized liquidation losses during the first two weeks of December, source: dYdX Foundation on X; dYdX Governance Forum. This would be the first biweekly tranche of a month-long, $1 million liquidation rebate pilot that has been approved by the community, source: dYdX Foundation on X; dYdX Governance Forum. Eligibility focuses on realized liquidation losses in the specified period, with distributions denominated in DYDX as outlined in the proposal, source: dYdX Foundation on X; dYdX Governance Forum. Participants can track governance deliberation and any finalized allocations via the referenced forum thread to align trading plans with the program’s execution timeline, source: dYdX Governance Forum; dYdX Foundation on X.