Read

Security

<p><strong>Key Points:</strong></p>  
<ul class="wp-block-list">
 <li><em>dYdX Trading will shut down the dYdX v3 platform on October 28, 2024, to make way for the new "dYdX Unlimited" platform launching this fall.</em></li>  
 <li><em>The transition follows the successful v4 chain, which has accumulated over $220 billion in trading volume since 2023, with no impact on dYdX Chain users or the v4 API.</em></li> 
</ul>  
<h5 class="wp-block-heading">dYdX Trading plans to <a href="https://x.com/dYdX/status/1839670205519134849" target="_blank" rel="noopener noreferrer nofollow">shut down</a> the dYdX v3 platform on October 28, 2024.</h5>  
<figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/09/On-Black-40.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/09/On-Black-40-1024x576.jpg" alt="dYdX V3 Platform Will Be Discontinued From October 28" class="wp-image-284824"></a>
 <figcaption class="wp-element-caption">
 </figcaption>
</figure>  
<p class="has-background" style="background-color:#222222">Read more: <a href="https://coincu.com/278275-dydx-chain-upgrade-bring-novel-features-security/" rel="noopener noreferrer nofollow">dYdX Chain Upgrade Brings Novel Features And Enhanced Security</a></p>  
<h2 class="wp-block-heading" id="dydx-trading-to-sunset-dydx-v3-platform-for-unlimited-upgrade">dYdX Trading to Sunset dYdX v3 Platform for "Unlimited" Upgrade</h2>  
<p>The move comes as part of the firm's strategy to move towards what was called "dYdX Unlimited," expected this fall.</p>  
<p>The firm said that the deactivation is in tandem with its vision for "truly unlimited" decentralized trading. The move follows a successful mainnet launch of the <a href="https://coincu.com/215320-dydx-community-approves-dydx-v4/" target="_blank" rel="noopener noreferrer nofollow">v4</a> chain back in 2023 that has since seen more than $220 billion in trading volume. Users on the <a href="https://coincu.com/254188-dydx-chain-block-production-now-resuming/" target="_blank" rel="noopener noreferrer nofollow">dYdX Chain</a>, on the company website, and those on the v4 API will not be impacted by the deactivation of the v3 platform.</p>  
<h2 class="wp-block-heading" id="dydx-v3-platform-potentially-being-sold">dYdX v3 Platform Potentially Being Sold</h2>  
<p>The dYdX v3 platform, which had massive venture capital behind it from firms like Andreessen Horowitz and Paradigm, was extremely popular among investors due to the high liquidity and low slippage on larger trades.</p>  
<p>A report by VanEck in March 2023 assumed the platform raked in $137 million in fees at the end of 2022. Its operator has decided to retire the platform for its more advanced successor anyway.</p>  
<p>In July, reports <a href="https://coincu.com/269146-dydx-trading-software-is-under-negotiations/" target="_blank" rel="noopener noreferrer nofollow">claimed</a> that dYdX Trading was considering selling the decentralized exchange platform. Some of the potential buyers include <a href="https://coincu.com/268656-wintermute-fundraising-300-with-tencent-report/" target="_blank" rel="noopener noreferrer nofollow">Wintermute Trading</a> and Selini Capital, with Perella Weinberg Partners advising dYdX Trading on the potential deal.</p>  
<figure class="wp-block-table">
 <table class="has-luminous-vivid-orange-color has-text-color has-link-color">
  <tbody>
   <tr>
    <td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td>
   </tr>
  </tbody>
 </table>
</figure>

dYdX V3 Platform Will Be Discontinued From October 28

Table of Contents

Coincu

Other articles published on Sep 27, 2024

How Qubetics Non-Custodial Wallet Empowers Users with Full Control of Their Digital Assets?

Liquid Restaking Protocol Bedrock Hit by $2M Exploit

CZ To Walk Out a Free Man Today, Major Turbulence in Crypto Expected

Michael Pizzino Analyzes Positive Trends in Altcoin Market

Coinpedia Fintech News

15 questions Nischal and WazirX must answer to regain Indian crypto traders’ trust

Join our free newsletter for daily crypto updates!