StandX said at 06:06 UTC on October 15, 2026 that it will gradually cease operations, close every remaining perpetuals position on January 15, 2027, and stop DUSD redemptions and platform withdrawals on January 31. The official announcement also ends every StandX yield program and new vault deposits from October 15.
The protocol will not launch a token. Instead, it will distribute a one-time $DUSD airdrop with no lockup. StandX said the distribution will use all remaining project revenue plus additional funds from the team. It did not disclose the total airdrop amount or allocations in the announcement.
The shutdown sequence
Trading remains available until October 20. On that date, StandX will put perpetuals, including Universal Markets, into reduce-only mode. Traders will be able to reduce or close positions but cannot open positions or add to existing ones. New registrations and DUSD minting will close at the same time.
The October 20 changes also stop new Block Trades and Block Options. Reserved Block Options can still be exercised until expiry. Vault managers will only be able to reduce positions, while deposits will remain open solely for margin top-ups. This means the platform keeps a narrow funding route open after ordinary deposits stop, but only for accounts managing existing exposure. The announcement does not provide a separate cutoff for those margin top-ups before all deposits close on January 15.
StandX will cancel remaining orders and close every open position at the prevailing Mark Price on January 15, 2027. Deposits will close that day. The SLP Vault, Community Strategy Vault, and Community Shield Vault will settle at final NAV, with shares returned to holders’ Perps Wallets. Unspent Community Reward Vault budgets will return to their funders.
Users then have until January 31, 2027 to withdraw from Perps Wallets and Cash Wallets. The same deadline applies to DUSD redemption requests. StandX says its current redemption process takes 7 days, so requests filed by the deadline should complete by February 7. Users therefore need to complete three separate steps where applicable: settle or close exposure, move assets from the Perps Wallet to the Cash Wallet, and withdraw on chain. A $DUSD holder seeking $USDT must also submit the redemption request before the final cutoff.
StandX will remove its DUSD liquidity from PancakeSwap and Raydium on January 31. Any platform balance left after that date will still belong to its wallet owner, according to the announcement, but recovery will require contacting StandX support. The protocol says withdrawals are received as $DUSD. A user who wants $USDT must submit a redemption request by the January 31 deadline or use available external liquidity.
Yield ends before trading
The first change takes effect on the announcement date. StandX is ending DUSD yield, Position Yield, Community Maker Yield, and referral commissions on October 15. New vaults and deposits into existing vaults also close immediately. This separates the end of yield generation from the later trading and withdrawal deadlines.
The announcement says $DUSD is fully collateralized and that users can withdraw assets in full. StandX reported zero fund security incidents over its operating history. Those statements come from the protocol and were not accompanied by a collateral attestation, reserve address, or pinned on-chain balance in the announcement.
StandX launched its mainnet in November 2025. The team says the exchange served more than 237,000 users and reached peak TVL above $200M. It also says most prior revenue had already been returned through SIP-2 and SIP-3. The remaining project revenue will now go toward the airdrop, together with an unspecified team contribution. The decision leaves no future protocol token for users who participated in trading, market making, referrals, or the earlier programs. Their announced return is the $DUSD allocation, subject to the checker and screening process.
For users with open perpetuals positions, the practical deadline is earlier than the final withdrawal date. Any position still open on January 15 will be closed at the Mark Price chosen under the platform’s existing process. Traders who want control over execution need to close before that forced settlement. Vault users also need to account for final NAV settlement into their Perps Wallets before moving assets to Cash Wallets for withdrawal.
For DUSD holders and liquidity providers, January 31 is the last date in the announced process. Holders can redeem through the official portal or trade on PancakeSwap or Raydium while liquidity remains available. Liquidity providers face a separate change when StandX removes its own DUSD liquidity from both venues on the deadline. The announcement does not specify how much liquidity StandX currently supplies or what liquidity will remain afterward.
Airdrop claims open in November
The airdrop checker is scheduled to open at 00:00 UTC on October 26. Claims open at 00:00 UTC on November 1 and close at 08:00 UTC on December 31. Any allocation not claimed by the closing time will be forfeited.
Eligible activity includes pre-deposit participation, Alpha and Mainnet trading, market making, and referrals. StandX says every allocation will pass anti-Sybil and wash-trading screening. It reserves the right to adjust or void allocations for accounts it considers abnormal. Users must claim with the supported network wallet address they used on StandX. Claimed $DUSD can be transferred, traded, or redeemed immediately because there is no lockup.
The checker will answer the remaining question for individual users: the announcement gives no allocation formula, total distribution, or conversion between recorded activity and $DUSD. October 26 is the next dated milestone, followed by the November 1 claim opening and the October 20 shift to reduce-only trading.
