CandleFocus A Cryptocurrency Platform Announces the Shutdown of a Widely Used Feature: Users Need to Withdraw Assets
2024-09-27
Author: Content Editor
Decentralized derivatives trading platform dYdX has announced that it will be shutting down its v3 platform on October 28, 2024. The platform, which has reached over $1 trillion in trading volume, will continue to operate normally until the shutdown date. Users are encouraged to close their trades and withdraw their USDC holdings as soon as possible. After October 30, users will be able to withdraw their funds, including open positions, directly from the Ethereum smart contract. The shutdown only affects users of v3, while the newer dYdX Chain (v4) and other services will continue as usual. The platform will concentrate its resources on the development of the Unlimited version, which is set to be released this fall and will offer additional features such as unlimited market listings, faster transaction times, and greater decentralization. The expiration of v3 does not impact the functionality of the governance token. dYdX Chain was originally scheduled for release in 2023 and aims to provide advanced features and a fully decentralized application chain.
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