The PerpDEX StandX team announced it would forgo issuing its own token and gradually wind down the platform. The decision was attributed to a strategic reassessment in light of market conditions.
Instead of a TGE, users will receive a one-time airdrop of the DUSD stablecoin with no lockup. The distribution will be funded by all of the project’s remaining revenue and additional funds from the team. Allocations will depend on user activity, including deposits, trading, market making, and referrals.
Key dates (Moscow time):
- October 15 – yield accrual ends.
- October 20 – opening new trading positions is prohibited.
- October 26, 03:00 – allocation verification begins.
- November 1, 03:00 – DUSD claims open.
- December 31, 11:00 – claims close.
- January 15, 2027 – remaining positions are forcibly closed.
- January 31, 2027 – final day to withdraw funds and submit requests to redeem DUSD.
StandX launched its mainnet in November 2025. Since then, more than 237,000 users have used the platform, and TVL peaked at over $200 million. According to the team, there have been no security incidents involving user funds during the platform’s entire operation.
StandX developed without venture capital funding or public investment rounds. The project was funded entirely by the founders’ own funds; they previously worked at Binance Futures and Goldman Sachs. In April 2025, StandX also received a grant from the Solana Foundation, the amount of which was not disclosed.