Overview
CoinEx is pleased to announce its support for the DYDX (dYdX) token migration from the ERC20 network to the native dYdX Chain mainnet. The migration will follow a 1:1 ratio. Below are the detailed timelines and essential instructions for users.
Key Dates and Service Updates
1. Leverage Market Adjustment
- Action: Suspension of DYDX/USDT leverage market borrowings.
- Time: May 31, 2024, at 15:00 (UTC+8).
2. ERC20 Deposit/Withdrawal Halt
- Action: Termination of DYDX-ERC20 deposit/withdrawal services.
- Time: June 5, 2024, at 11:00 (UTC+8).
3. Mainnet Services Activation
- Post-migration, DYDX mainnet deposits/withdrawals will be enabled without additional announcements.
Critical Reminders
ERC20 Deposits Post-Cutoff:
- After June 5, 2024 (11:00 UTC+8), DYDX-ERC20 deposits will not be credited. Verify token type before transacting.
Trading Availability:
- DYDX trading pairs remain active during the migration.
Leverage Users:
- Repay outstanding DYDX borrows before the cutoff to avoid issues.
Additional Resources:
- Explore dYdX Chain documentation and Token Bridges.
Risk Disclosure
Digital assets involve high volatility and risk. Conduct thorough research and consult financial advisors before investing. CoinEx reserves the right to interpret this announcement.
CoinEx Team
May 31, 2024
FAQs
1. Will my DYDX balance automatically migrate?
- Yes, CoinEx will handle the 1:1 migration. No user action is required for existing balances.
2. Can I trade DYDX during the migration?
- Yes, trading continues uninterrupted. Only deposits/withdrawals are paused.
3. What happens if I send ERC20 DYDX after the deadline?
- These tokens will not be recoverable. Always confirm the network before transferring.
👉 Learn more about token migrations
Disclaimer
This content is informational and not financial advice. Consult professionals before investing. Owners disclaim liability for losses arising from reliance on this information.