Support for the ethDYDX-DYDX bridge (the “Bridge”) and the ability to migrate ethDYDX from Ethereum to DYDX on the dYdX Chain is expected to end on June 9, 2025, following a community governance proposal.
If you still hold ethDYDX and do not bridge before this date, you may permanently lose the ability to convert your tokens to DYDX on the dYdX Chain.
Why this matters?
ethDYDX lost most of its utility after dYdX Trading Inc. shut down dYdX v3 in October 2024.
It is therefore likely that ethDYDX could be rendered useless and, potentially, valueless as a consequence of the Bridge closure.
DYDX now powers dYdX Chain as its native L1 token, which is used for staking, securing the network, and participating in governance. Key highlights:
~94% of ethDYDX has already been migrated
270M+ DYDX staked to secure the chain
$45M+ in protocol fees distributed to over 17K stakers
Most major CEXs have migrated and now support DYDX
Read more about this in BeInCrypto.
Need help bridging? The dYdX Foundation has published a step-by-step guide on how to interact with the Bridge.