Revenue Share

Order Router Rev Share enables third-party order routers to direct orders to dYdX and earn a portion of the trading fees (maker and taker). The revenue share, specified in parts per million (ppm), must be voted in via Governance and set in the order_router_address field in the order message itself.

The revenue will be distributed based on filled orders that were routed through the participating order router.

Order router details and revenue share percentages can be monitored through the indexer using the /orders and /fills endpoints. The /orders endpoint provides information on the order router address, while the /fills endpoint shows the order router address and the specific revenue amount distributed per fill.

To participate in the Order Router Rev Share program, users need to propose and have a passing vote for their order router address & revenue split.

Affiliate revenue takes priority in the distribution hierarchy.
If there is an active affiliate split that has not reached its maximum within a 30-day rolling window, no revenue will be shared with the order router

Implementation Details

Voting in via Governance

To participate in the Order Router Rev Share program, you need to create and submit a governance proposal. Below is an example of what the governance message structure looks like:

message Order {
"messages": [
	{
		"@type": "/dydxprotocol.revshare.MsgSetOrderRouterRevShare",
		"authority": authority,
		"order_router_rev_share": {
			"address": {{your address}},
			"sharePpm": {{your requested ppm}},
		}
	}
]
}

The key components of this message are:

address - The address of the order router that will receive the revenue share. This is also the id you place in your order message
sharePpm - The revenue share percentage in parts per million (ppm).

After submitting the proposal, it must go through the standard governance voting process and receive a passing vote before the order router address and revenue share percentage are activated in the system.

Updating Revenue Share (Optional)

The process for updating an existing order router's revenue share is the same as setting up a new one. You will need to submit a governance proposal with the updated parameters.

To update the revenue share percentage for an existing order router, create a governance message with the same structure:

"messages": [
	{
		"@type": "/dydxprotocol.revshare.MsgSetOrderRouterRevShare",
		"authority": authority,
		"order_router_rev_share": {
			"address": {{your existing address}},
			"sharePpm": {{your new requested ppm}},
		}
	}
]

The proposal must go through the standard governance voting process and receive a passing vote before the updated revenue share percentage takes effect.

Deleting an Order Router Rev Share (Optional)

To delete an order router's revenue share configuration, you simply need to set the revenue share percentage to 0. This process follows the same governance workflow as setting up or updating a revenue share.

Submit a governance proposal with the following message structure:

"messages": [
	{
		"@type": "/dydxprotocol.revshare.MsgSetOrderRouterRevShare",
		"authority": authority,
		"order_router_rev_share": {
			"address": {{your existing address}},
			"sharePpm": 0,
		}
	}
]

Changes to the Order Message

The order_router_address field is set when an order is placed

order_router_address - the ID of the order router and where fees will be sent to

message Order {
  // The unique ID of this order. Meant to be unique across all orders.
  OrderId order_id = 1 [ (gogoproto.nullable) = false ];
  ...
  // order_router_address is the metadata for the frontend order router.
  string order_router_address = 13;
}

Order Validation Checks

Ensure the order_router_address field is valid and already voted in via governance