StandX, co-founded by former Binance Futures executive Aaron Gong, is ending operations and canceling its token launch plans, with January 31, 2027, set as the deadline for users to withdraw their assets.
According to an announcement reported by Wu Blockchain, decentralized perpetual futures exchange StandX has decided to wind down operations after assessing business and market conditions. The platform, founded by Aaron Gong and other seasoned industry figures, has set separate dates for various steps, from stopping users from opening new positions to closing existing trades.
StandX said it had served more than 237,000 users since its mainnet launch in November 2025. The platform’s total value locked had also exceeded $200 million at its peak.
When will trading and withdrawals end?
The first step in the shutdown timeline will be the end of yield distributions on October 15, 2026. The subsequent stages are as follows:
- October 20, 2026: Perpetual futures will switch to “reduce-only” mode, allowing only existing positions to be reduced; no new positions can be opened.
- By January 15, 2027: All remaining open positions will be closed.
- January 31, 2027: DUSD redemptions and asset withdrawals will end.
Users should take these separate deadlines for closing trades and withdrawing assets into account when managing their open positions.
Token plan canceled, DUSD distribution in the works
The StandX team has also abandoned its plan to launch a platform token. Instead, it plans to hold a one-time DUSD airdrop using remaining revenue and additional contributions from the team.
As a result, the shutdown process will involve a DUSD distribution rather than a new platform token; the summary of the announcement shared so far does not provide details on the distribution amount or eligibility requirements.
Not investment advice.