All of these “users” DYDX enthusiasts who made accounts in the last two weeks, who had NO idea the migration was occurring.
What a coincidence.
Likely scenario, someone “came up” on a wallet with ERC-20 DYDX tokens, a significant amount. And they are looking to sell them.
@apt You can spot an amateur right away! Go to the blockchain, see how many wallets there are in the ERC-20 network and what amounts are in them. If you’ve bought crypto at least once, I hope you know how to do this?
Moreover, we have already created a Google form where about 200 users from this forum alone have indicated their wallets and the amounts of their losses (>1.3M ethDYDX), and the list is updated daily.
If you read the messages above carefully, I think you noticed that we are talking about 45,000 wallets with a positive DYDX balance on the ETH network alone! And there are other networks as well. Go check it out for yourself and then get back to us.
From the beginning, our position was not simply to oppose the closure of the Bridge. We were the only delegate who proposed an alternative mechanism to allow token holders who missed the migration window to still migrate safely. Such a solution could have been designed without creating costs for the Foundation.
At that time, we warned that closing the Bridge without an alternative would not only expose the project to reputational risks, but also create an unfair situation for many token holders. Unfortunately, both of these concerns have now materialized.
We are ready to present a proposal that could offer a practical solution to this issue — one that is unlikely to carry significant costs and that can strengthen governance while restoring token holder confidence for the long term.
https://mirror.xyz/valuecrypto.eth/rwZITLi3ZKC3607FgIVLbaBJaJE_4-Y74c7VGINJERs
“6. The Bridge
The reasons outlined in the report are reasonable; however, we believe that this policy could generate a significant reputational impact for the project. At the very least, we would always provide the option to recover those tokens through a more manual process at some point. I think closing off that possibility could cause significant reputational issues, particularly with traders who, due to some issue, might not be able to meet the window."
“After this date, the dYdX Chain will no longer recognize transactions through the Bridge Smart Contract, and ethDYDX holders will not be able to convert their ethDYDX tokens on Ethereum into DYDX tokens on the dYdX Chain via the Bridge”
I would at least extend that manual option for a few years. And it could have an associated cost of 5% for the foundation’s administrative tasks, but at least it would provide that option”
I’m stuck with 2600 DYDX(on ETH) tokens i bought last year. Kept on Trust Wallet in order to security but it was blocked by ETH bridge deactivation with No well-spread notification! I’m early investor who bought coins by own money (no airdrop) and now my ˜1500$ became nothing. Please provide solution to exchange tokens or reopen bridge, i’m sole investor just got my deposit frozen. Help
I fully support DRC…
I was just holding coins in my wallet for a long time, so why can’t I use them now? I don’t know.
If you decide to switch to the DYDX network, that’s fine, but give everyone the opportunity to switch.
Dear community,
It is completely unacceptable that the migration bridge was shut down without clear and open communication. Many loyal holders, including myself, have been supporting this project since the very beginning, keeping tokens locked safely in cold wallets. And now, without any fault of our own, we are left with assets that suddenly became unusable.
This is not just a technical issue — it damages trust in the project. If the team values its community, there must be a solution: either reopen the migration bridge for a grace period or provide an exchange mechanism through a reliable platform. Anything less is a betrayal of long-term supporters.
I currently hold 5776.5 tokens.
We expect action, not silence.
Dear dYdX Team and Community,
I fully support this DRC and would like to emphasize that I am a long-term DYDX holder who has supported the project from its early stages. My situation is especially difficult: part of my tokens is already on the main network, but another part is still stuck on Ethereum as ERC-20 DYDX, and I currently have no way to migrate them. This represents a serious financial problem for me.
I kindly ask the Team and Community to consider a fair solution — such as temporarily reopening the bridge or creating another official migration mechanism. This would greatly help not only me, but also many others in the same position, and it would strengthen the trust of long-term holders in the project.
With respect and appreciation,
Ilia (Centurioon)
Good afternoon! My name is Mikhail, I’ve been a DYDX holder since 2022. I’ve been in a long-term decline. I hold my tokens in an ERC20 wallet. I learned from a blogger who recommended buying a token that my tokens are locked up and cannot be exchanged. This is unfair and a very mean decision. I ask for the opportunity to transfer my tokens to the main network.
I fully support this proposal. As one of the many ERC-20 holders, I was left without a fair option to migrate after the bridge was closed. We invested in DYDX with trust, and now we feel abandoned. Reopening the bridge or providing an alternative migration path is the only fair solution. Please don’t ignore the 45,000 of us who still hold ERC-20 tokens. We need a transparent and fair resolution.
There is no way all of you new accounts all happen to be non-English speakers, and all happen to have just found out about the migration now at the same time, MONTHS after the migration happened. If you go to Twitter all of the ghost accounts tweeting about this, have the same grammatical structure and come from the same region of the world.
This is so silly.
Y’all are only fooling yourselves and your mother.
@apt I’ll let you in on a big secret, son: dydx holders live in countries where English isn’t the native language! And since the dYdX Team did not bother to publish information about the closure of the bridge on its YouTube channel (and other social networks), most of the international community did not learn about this important event. And you should be asking questions not to us, but to the project team: How could you not bother to publish important news on all social networks and let down tens of thousands of users?!
Run to your mother and don’t ask any more stupid questions.
you can t lose money like this. Find a solution
Proposal: Fair Solution for Frozen ethDYDX Holders — Controlled Airdrop on Cosmos
We, the long-term holders of ethDYDX who were affected by the bridge closure, respectfully propose a fair recovery mechanism through a controlled airdrop on the Cosmos chain.
Proposal Summary
We ask the dYdX Foundation and DAO to consider a one-time airdrop for verified wallets that still hold frozen ethDYDX tokens on Ethereum.
To address market concerns, we suggest implementing a vesting or lock period (e.g., 6–12 months with gradual unlocks). This prevents any price impact while restoring access to funds for loyal community members.
The process could include:
A snapshot of balances at the time of bridge closure (June 13, 2025).
An equivalent token airdrop on the Cosmos chain.
Gradual unlocking to ensure market stability.
Why This Matters
This approach restores fairness without inflating supply, since frozen tokens on Ethereum will remain permanently non-circulating. It also rebuilds trust with long-term supporters who still believe in the project and want to contribute to its success.
Our Message
We are not short-term speculators and have no intention to dump the price. We simply want fair treatment and recognition of our legitimate holdings. If dYdX resolves this fairly, it will strengthen the community’s unity and create even stronger support for the Foundation and the protocol’s long-term growth.
We invite the Foundation and DAO delegates to discuss this proposal openly and explore a balanced path forward.
With respect,
The Affected ethDYDX Holders Community
Good afternoon!
I am a holder of dYdX tokens in the ERC-20 network on the Safepal wallet and until recently the real value was displayed on the wallet, although the bridge has been closed for several months and only recently stopped displaying the value. It was necessary to warn about the closure of the bridge through all channels that are possible, so that all holders could change the network to dYdX or another that remained in operation. One can speculate a lot about the fact that in this way they may have tried to hold the price with further burning of coins, and hidden from the real holders, but will such behavior give a positive assessment to the entire crypto community, how do you want to develop the dYdX coin in the future without the support of the entire crypto community? The best solution I see is to return the bridge of the ERC-20 network to these coins.
Yury
Dear DYDX Team
I invest for the long term, but I never planned to hold the tokens indefinitely. My assets are linked to ethDYDX.
Hello dYdX Team,
I am a long-term holder of ethDYDX tokens. Recently, I learned about the migration to dYdX Chain, but I wasn’t aware of this earlier.
I am very concerned, as I invested $30,000. I kindly request that you consider providing a temporary solution to reopen the bridge for this migration process. This action would be extremely beneficial for the community, and we would be very grateful for your support.
Hello,
I am a DYDX holder and I still keep my tokens on Ethereum (ERC-20).
Since the official bridge has been deprecated, I cannot migrate them to the new dYdX Chain.
I do not want to sell my tokens, I just want to know if there will be any future support or an alternative solution (such as a new bridge, swap program, or community proposal) for ERC-20 DYDX holders.
Please let me know:
Thank you for your guidance and support.
The official Foundation response is here: DRC: Migration solution for ERC-20 DYDX holders - #53 by dYdXFoundation
“Any potential solutions for liquidity or bridging should be community-driven and must not depend on or involve the dYdX Foundation."
The following (everything below this line) is my thinking and not official company-policy:
Note that only Governance can re-open the bridge but there is additional problem that unbridged tokens were burned when the bridge was closed in June 2025. The total supply was reduced, there are no unminted tokens so even if the bridge is re-open, it will not create tokens on the other end. There will first need a Governance proposal to allocate the (max) 41,656,820 tokens (to be taken from Community Treasury). Based on my understanding of Governance, this is not likely to be approved.
People had 20 months to bridge (from Nov 2023 to June 2025). Overall, 96% of all tokens were bridged including those on all centralized exchanges. It is likely that eth-DYDX tokens are worth nothing due to lack of utility.
This is not a real DeFi solution. The real solution would be to send tokens to a smart contract that issues an equivalent amount of tokens on the Cosmos network.
By deciding to create a snapshot, you are canceling transactions in the blockchain after the snapshot date. This is not a solution; the only solution is to burn tokens in one network and receive them in another. A simple migration mechanism can be proposed: send tokens to a NULL address on the Ethereum network and receive an equivalent amount to the same address on the Cosmos network.
You have removed tokens that do not belong to you from circulation. Let’s use the same mechanism to restore the circulating supply to its original value. Wouldn’t that be fair?