Summary
This proposal seeks to wind down and move the TON-USD market to final settlement.
The reason for this delisting is that Toncoin has rebranded from TON to GRAM. The rebrand changes the token name, ticker, and logo, while the underlying chain and network remain the same. TON holdings convert 1:1 to GRAM automatically, with no swap, migration, or action required from holders.
Given that other exchanges have already started delisting or transitioning TON markets and the dYdX oracle for TON is currently frozen, this proposal is being submitted as an expedited governance vote.
Market
TON-USD
Rationale
This proposal is not part of the regular monthly dead-market cleanup process. It is an operational market maintenance action required due to the TON to GRAM rebrand.
The key reasons for winding down TON-USD are:
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TON has rebranded to GRAM
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The ticker transition is already being reflected across external venues
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The dYdX TON oracle is currently frozen
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Keeping TON-USD live may create market risk, poor user experience, and inconsistent pricing behavior
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The market should be wound down cleanly before further issues arise
Since the underlying asset is moving from TON to GRAM, maintaining the old TON-USD market is no longer appropriate.
Motivation
Winding down TON-USD will:
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Protect market integrity during the ticker transition
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Avoid issues caused by a frozen oracle
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Align dYdX market listings with the broader exchange transition from TON to GRAM
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Reduce user confusion around the old TON ticker
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Ensure the market is moved to final settlement in an orderly way
Technical Implementation
The proposal will:
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Transition TON-USD to
STATUS_FINAL_SETTLEMENT -
Disable the associated TON market configuration
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Disable the related price feed
Expedited Vote
Due to the frozen oracle and ongoing TON to GRAM transition across external venues, this proposal is intended to move on-chain immediately as an expedited vote.
We welcome community feedback, but given the operational nature of this change and the current oracle issue, this proposal is being submitted on an accelerated timeline.