- dYdX governance voted to close ethDYDX bridge by mid-2025.
- 88.3 million ethDYDX are unconverted.
- Liquidity shifts expected as tokens migrate.
dYdX Foundation, under CEO Charles d’Haussy, announced the cessation of the
ethDYDX bridge service by June 2025, necessitating token migration.
The bridge closure impacts DeFi markets significantly, as unconverted tokens may become ineligible for
future conversions.
The decision by the dYdX Foundation to halt the ethDYDX bridge comes after a governance vote. The
CEO, Charles d’Haussy, previously informed stakeholders of the impending deadline. A total of
over 88.3 million ethDYDX remain unconverted as of now.
The migration deadline fixed for June 2025 will ensure that investors in ethDYDX take timely steps. Token holders must act promptly as
future bridge transfers will not be possible beyond this timeline.
“Hold on to your ethDYDX tokens and migrate them before the June 2025 deadline. This is a crucial step to avoid being locked out of conversions.” —
Charles d’Haussy, CEO, dYdX Foundation
An anticipated effect is a realignment in DeFi liquidity and market dynamics. Unconverted tokens may face potential value loss, affecting both
individuals and institutional investors.
The decision will likely lead to financial shifts, possibly causing temporary volatility in both ethDYDX and DYDX tokens. The bridge shutdown represents a critical moment for stakeholders, marking a shift in token conversion processes, as detailed in the
dYdX token migration overview.
Historical trends suggest such migrations can cause liquidity fragmentation and protocol shifts. Past events similar to this have often led to noticeable short-term volatility. The outcome could also affect future
governance and regulatory frameworks, aligning with industry-wide Derivatives and DeFi mechanisms.
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