StandX to shut down perpetual futures exchange, cancels planned token launch

StandX, a decentralized perpetual futures exchange founded by former Binance Futures head Aaron Gong and other industry veterans, has announced plans to shut down its operations and cancel its planned token launch after serving more than 237,000 users. Summary StandX will shut down its perpetual futures exchange and cancel its planned token launch following a review of its business and market conditions. The platform has served more than 237,000 users since November 2025, with its total value locked peaking above $200 million. Perpetual futures trading will enter reduce only mode on October 20, with all remaining positions scheduled for closure by January 15, 2027. StandX will distribute a one time DUSD airdrop to eligible users, with claims opening November 1 and closing December 31. Users have until January 31, 2027, to withdraw their assets and submit DUSD redemption requests. According to the platform’s October 15 announcement, the decision followed a review of its business and market conditions, with perpetual futures trading set to enter reduce-only mode on October 20 and all remaining positions scheduled for closure by January 15, 2027. We have an important update to share. ...