dYdX: Powering VIP Affiliate Growth with Fuul

What is dYdX?

dYdX is one of the leading decentralized trading protocols, offering a secure and scalable environment for perpetuals trading across 200+ markets. With its focus on transparency and advanced DeFi infrastructure, it attracts traders from all over the world who want fast, non-custodial trading experiences.

The Challenge

To drive sustainable growth, dYdX sought a scalable affiliate strategy beyond simple user acquisition. They needed a structured program that could:

• Onboard and engage high-quality affiliates and influencers efficiently.
• Prevent Affiliate fraud and trading volume from market makers.
• Ensure regulatory compliance by filtering out affiliates from restricted jurisdictions.
• Provide transparent, actionable data for affiliates and internal teams.
• Enable rapid setup and management without straining engineering resources 

The Solution

dYdX launched a multi-tiered affiliate program designed to reward both referred users and top-tier partners who help bring real trading activity to the protocol.

Tier Set Up

Leveraging Fuul, dYdX launched a dynamic, tiered affiliate program that could easily be set up within Fuul’s platform. 

Affiliate Tiers at a Glance

Both tiers enjoy real‑time dashboards, instant USDC payouts, and Fuul’s built‑in fraud protection.

Program Boosters

To further incentivize affiliates, dYdX introduced program boosters, rewarding affiliates with additional bonuses for onboarding new traders and driving increased trading volume. These boosters helped affiliates scale their impact, creating a win-win dynamic for both affiliates and the dYdX ecosystem.

Incentives Hub

With Fuul, dYdX has a dedicated dashboard to track how the affiliate program is performing overall. They can see key metrics across all affiliates, understand what’s working, and make informed decisions to keep improving the program.

With Fuul, everyone benefits:

For dYdX:

• Unified dashboard to analyze affiliate performance.
• Tools to optimize the program based on real data.
• Full transparency across the funnel

For affiliates, this dashboard is also useful, each one can:

• See how their referrals are performing.
• Track commissions earned over time.
• Adjust their strategy based on real-time data.

VIP affiliates also get a few extras. Through Fuul, they have:

• A direct communication channel with the dYdX team.
• A dedicated space to access curated content, tips, and announcements.
• Extra support to help them maximize their reach and rewards.

Everything is built to keep everyone aligned and growing together.

Results

Maximizing Impact, Not Just Presence

Six months after launching the Affiliate Program, the numbers speak for themselves:

• More than 200 affiliates.
• Over 100 VIPs.
• Close to 1,000 new traders onboarded through affiliate links.
• Over $4 billion in trading volume generated by referred users.
• Affiliates have referred  +1M in fees.
• 1,000+ hours of development and product teams saved

Conclusion

For dYdX, this isn’t just about signing up affiliates, it’s about building partnerships that bring real value to the protocol. 

With Fuul, they’ve created a program that’s transparent, performance-driven, and designed for long-term success. Affiliates have the tools they need to track progress and maximize their impact.