dYdX is kicking off February with the next chapter of the Surge Program! Following a community-approved six-month renewal of Surge beginning in January, Season 11 will run from 00:00 UTC on February 1, 2026, through 23:59 UTC on February 28, 2026, and brings together competitive trading, fee-based incentives, and expanded affiliate opportunities.  

February Snapshot

For February, these incentives are designed to welcome new community members and reward active participants: 

• BONK $100,000 P&L-Based Trading League
• Zero Maker & Taker Fees on BTC and BONK Perpetuals
• Liquidation Rebates for Liquidated Traders on Non-BTC Markets
• $200,000 Affiliate Booster Program through mid-February 

$100K BONK Trading League: “BONKuary PnL Open”

Surge Season 11 features a month-long, P&L-based trading competition in partnership with BONK, one of the largest retail-driven ecosystems on Solana and a dYdX community-approved integration partner.

The goal of the BONK Trading League is to empower traders on BONK to use dYdX via a BONK-branded frontend, and strengthen long-term alignment between the BONK ecosystem and the dYdX protocol.

Competition Overview

• Format: P&L-based Trading League 
• Duration: February 1, 2026 – February 28, 2026
• Eligibility:
  
  • Non-API traders
  • Eligible traders using the bonk.trade UI powered by dYdX
• Prize Pool: Up to $100,000 in DYDX, distributed to the top 20 traders by P&L
  
  • 1st: $25,000
  • 2nd: $15,000
  • 3rd: $10,000
  • 4th–5th: $5,000 each
  • 6th–10th: $4,000 each

• 11th–20th: $2,000 each
  
  

The prize pool will be funded from the dYdX Community Treasury and distributed in DYDX. The final DYDX amount will be updated at the time of distribution following the end of the competition.

Zero Fees on BTC & BONK Perpetuals

February incentives also include a 100% maker and taker fee discount on BTC and BONK perpetual markets. As approved by the dYdX community, all eligible traders can trade BTC and BONK perpetuals fee-free throughout February.

Note: Other fees remain unchanged, including gas, bridging, slippage, and third-party fees. All future fee discounts remain subject to governance decisions.

Up to $1M Liquidation Rebate Program Continues

The dYdX community has approved extending the Liquidation Rebate Program through February.

Launched in December 2025, the program caters to traders who experience liquidations on dYdX. For February, the program will now rebate a portion of trader losses resulting from liquidations on non-BTC perpetual markets. Reminder that eligible traders can now claim rebates from the second half of December distributions (claim by February 10th) as well as the January distribution period here.

dYdX Affiliate Booster Program 

Alongside Surge Season 11, the dYdX Affiliate Booster Program returns with an updated rewards model that focuses on sustained, high-quality referrals. Whether you’re a returning affiliate or joining for the first time, the program is designed to reward consistent participation and long-term ecosystem growth.

Program Overview

• Duration: Monday, January 19 – Monday, February 16, 2026
• Total Rewards Pool: $200,000 USDC
  
  • $100,000 USDC: Proportionate rewards based on referred trading volume
  • $100,000 USDC: $10K bonus for each of the first 10 eligible affiliates to reach $100M in referred trading volume.
• Registration: Required (please register here)

Instead of ranking affiliates, this iteration shares the rewards pool among all qualifying participants based on the volume they refer. 

Key Details

• Minimum eligibility requirements:
  
  • $100,000 in referred trading volume
  • 5 new referred users

Eligible affiliates who meet both thresholds will be contacted after the program concludes regarding rewards distribution, which is managed by CLC through the dYdX Grants Program.

Looking Ahead

Surge Season 11 brings together competitive trading, fee incentives, liquidation rebates, and affiliate-driven growth, highlighting the incentives that drive meaningful engagement and long-term alignment as dYdX enters the next phase of Surge.

👉 You can join Surge Season 11 and experience everything that dYdX has to offer.

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Disclaimer 

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dYdX is a decentralised, disintermediated and permissionless protocol, and is not available in the U.S. or to other restricted persons. All use of dYdX software is subject to the dYdX Software Terms of Use. 

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All use of the Telegram trading bot is subject to the Pocket Protector Terms of Use. 

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This post describes anticipated features in the open source dYdX software. The implementation of these features in any live deployment of dYdX software will be decided by the relevant deployer community. dYdX International Ltd. (“DI”), dYdX Trading Inc. dba dYdX Labs (“dYdX Labs”) and their affiliates do not develop, control or operate any component of dYdX software for public use. The information provided in this website is for general informational purposes only and DI reserves the right to update, modify, or amend any contents herein, at its sole discretion and without prior notice. Nothing herein should be used or considered as legal, financial, tax, or any other advice, nor as an instruction or invitation to act in any way by anyone. 

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Engaging in any activity involving crypto-assets (including trading crypto assets and depositing into the MegaVault) is risky due to high volatility. Returns are not guaranteed and may fluctuate over time depending on multiple factors, and you may lose your entire investment, particularly when using leverage. Investment into crypto-assets may not be regulated and may not be suitable for retail investors. You should perform your own research and due diligence before engaging in any activity involving crypto-assets. 

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In no event will DI or its affiliates be liable for any loss or damage, including without limitation, indirect or consequential loss or damage, arising from or in connection with the use of this website. By continuing to access this website, you agree to the above and accept the possibility of changes in the information provided.

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