StandX, a decentralized perpetual trading platform, will gradually cease operations and abandon plans to launch a native token, opting instead to distribute its remaining revenue to users through a one-time DUSD airdrop.
In an announcement on October 15, the platform said it would combine its remaining project revenue with additional funding from the team to reward community members. Eligible users will receive DUSD without a lockup period, allowing them to transfer, trade or redeem their allocations after claiming them. The platform said the decision followed a review of its business and market conditions but did not provide further details about the reasons for the shutdown.
StandX Announces DUSD Airdrop Dates
StandX will launch its airdrop eligibility checker at 00:00 UTC on October 26. Users can start claiming their allocations from 00:00 UTC on November 1, with claims closing at 08:00 UTC on December 31, 2026. Airdrop allocations will depend on users’ activity on the platform. This includes pre-deposits, participation in the Alpha phase, mainnet trading, market making and referrals.
StandX said it would check all allocations for fake accounts and wash trading. It also reserved the right to change or cancel rewards for accounts showing unusual activity. Users who fail to claim their DUSD before the deadline will lose their allocations.
According to the announcement, StandX has served more than 237,000 users since its mainnet launch in November 2025. Its total value locked (TVL) also peaked above $200 million. The team said most of the platform’s revenue had already been returned to users through its SIP-2 and SIP-3 programs. The upcoming airdrop will distribute the remaining revenue, along with additional funding from the team.
Trading Restrictions Begin October 20
StandX has set several deadlines for users as it prepares to close its services. Starting October 15, all yield programs will end. These include DUSD yield, Position Yield, Community Maker Yield and referral commissions. The platform will also stop creating new vaults and accepting new vault deposits.
On October 20, perpetual markets will move to reduce-only mode. Users will still be able to reduce or close existing positions but will not be able to open new positions or increase their current exposure.
New registrations and DUSD minting will also close on October 20. The platform will stop accepting new block trades and block options, although reserved block options will remain executable until expiry. Deposits will be allowed only for adding margin to existing positions.
All Positions to Close by January 2027
StandX will close all remaining open positions at the Mark Price on January 15, 2027. It will also cancel outstanding orders and settle all vaults.
Shares in the SLP Vault, Community Strategy Vault and Community Shield Vault will be returned to holders’ Perps Wallets at their final net asset value. Remaining Community Reward Vault budgets will go back to their funders. Deposits will close on January 15.
The final deadline for withdrawals and DUSD redemption is January 31, 2027. Users must move funds from their Perps Wallets to their Cash Wallets before withdrawing to an onchain wallet. Withdrawals will be made in DUSD.
Users who want to convert DUSD into USDT must submit redemption requests by January 31. StandX said its seven-day redemption process means requests submitted by the deadline should be completed by February 7. The platform will also remove its DUSD liquidity from PancakeSwap and Raydium on January 31. Liquidity providers should plan their exits before that date.
What Users Need to Know
StandX said DUSD remained fully collateralized and users could withdraw their assets before the deadlines. However, users with balances left on the platform after January 31 will need to contact customer support to recover them.
The platform has advised users to close positions before January 15 and withdraw their funds early to avoid possible network congestion. It also warned users to claim their airdrops only through official StandX channels and never share private keys or seed phrases.
StandX’s planned shutdown follows the closure of other crypto trading platforms. BitMEX, a centralized crypto derivatives exchange, shut down on September 23, 2026, after gradually restricting trading and asking users to close positions and withdraw their funds.
Both announcements require users to manage open positions and withdraw their assets before the respective deadlines, although the platforms have outlined different shutdown arrangements.
The DUSD airdrop claims will close on December 31, 2026, while withdrawals and redemption services are scheduled to end on January 31, 2027.
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