Decentralized derivatives trading platform dYdX has announced plans to shut down dYdx v3 version on October 28, 2024. The platform will remain operational until the closing date, allowing users to close positions and withdraw USDC funds.
Reason for dYdX v3 to Sunset is the Newest v4 Version
dYdX said that user funds remain secure and can be withdrawn indefinitely from smart contracts. The closure only impacts v3 users, while dYdX Chain (v4) and other versions remain unaffected. The company will focus its resources on developing the Unlimited version, scheduled for launch this fall.
The decision to wind down v3 activities does not directly affect the functionality of governance tokens, according to the official blog. Information regarding this version of dYdX governance can be found on the dYdX Foundation website.
In a few years, v3 facilitated over $1 trillion in trading volume.
