dYdX to Shut Down v3 Version, Users Urged to Withdraw USDC by October 28, 2024

On September 27, according to a report by COINOTAG, decentralized derivatives platform dYdX announced its decision to terminate its v3 version on October 28, 2024, precisely at 20:05 Beijing time. Until this closing date, the v3 platform will function normally, but users are encouraged to close their positions and withdraw their USDC promptly. Post October 30, users will be able to withdraw the full value of their accounts, inclusive of open positions, directly from Ethereum smart contracts.

dYdX has assured that the security of user funds will remain intact, with access to withdrawals from smart contracts available indefinitely. This shutdown exclusively impacts v3 users, leaving the dYdX Chain (v4) and other versions unaffected. Concurrently, dYdX will channel its efforts towards the development of the Unlimited version, slated for release this fall.