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What is the DYDX Migration?

Modified on:

Ticker: DYDX
Network: dYdX Chain
Category: Layer 1, DeFi
Address: https://www.mintscan.io/dydx

 

About the Migration

Bitso will be migrating all DYDX tokens from Ethereum (ethDYDX) to the native dYdX Chain. This is part of dYdX’s broader transition to a fully sovereign blockchain optimized for high-performance perpetuals trading. Native DYDX supports governance, staking, and fee distribution directly on the dYdX Chain.

We will manage this migration for our users — you don’t need to do anything.

 

Migration Timeline

June 5, 2025, 10:00 AM (CDMX)
The following services will be temporarily paused in order to execute DYDX’s full migration to its new native network: 

  • Deposits
  • Withdrawals
  • Trading
  • Conversions 

Note: Limit orders will be re-enabled on June 5th at 14:00 (CDMX)

June 10, 2025, 15:00 (CDMX) 
Migration will be complete. Native DYDX tokens will now be available and Bitso will resume all DYDX related services:

  • Deposits
  • Withdrawals
  • Trading
  • Conversions

Important: Do Not Deposit ethDYDX

Once the migration begins on June 5, any deposit of DYDX on Ethereum (ethDYDX) to your Bitso wallet will be irreversibly lost. Please make sure any DYDX sent to Bitso uses the new dYdX nChain address only, once deposits reopen.

 

A quick example

Let’s say you deposited 50 DYDX (ethDYDX) to your Bitso wallet before June 5. By June 10, your 50 tokens will automatically appear as native DYDX on the dYdX Chain in your Bitso wallet, ready to use.

Now let’s say that, on June 11, a friend tries to send you 50 DYDX (ethDYDX) through the Ethereum network to your Bitso account. Unfortunately, those tokens will be permanently lost. Bitso will no longer support DYDX on Ethereum after the migration. That’s why it’s critical to confirm that you’re using the dYdX Chain before making any deposits starting June 10.

 

Security Notice: Use of the dYdX dApp

We want to raise awareness about a potential risk when using the dYdX web application (dApp).

If you select "Remember Me" while connecting to dYdX v4, the dApp may store a private key in your browser cache. If your device is compromised, malware could potentially use that key to perform unauthorized trades on your behalf.

This risk does not affect your Bitso wallet or account, but we strongly encourage caution when using external wallets or browsers to access the dYdX dApp. We’ll keep monitoring this and will update our recommendations if anything changes.

 

Why this migration matters

The move to the new DYDX Chain improves decentralization, governance, and scalability:

  • Staking: Users can stake DYDX and earn protocol rewards.
  • Governance: DYDX holders vote on protocol changes directly.
  • Fee Distribution: 100% of protocol fees go to validators and DYDX holders who stake by delegating.
  • Security: Native staking avoids intermediary contract risk.

For more detailed guidance, refer to our Blog Post and dYdX Foundation’s Documentation.

 

FAQ

Do I need to do anything for this migration?

No, Bitso is handling the entire migration process on your behalf. If you hold ethDYDX in your Bitso account, we will automatically convert it to native DYDX at a 1:1 ratio. This ensures a seamless experience for you without requiring any manual actions.

What will happen to my current DYDX balance on Ethereum?

Bitso will convert your ethDYDX balance  to native DYDX and migrate it to the new dYdX Chain. You don’t need to claim, bridge, or take any additional action—your balance will reflect the new asset once the migration is completed on June 10, 2025.

Will my DYDX be safe during the migration?

Yes. We are pausing all DYDX activity (deposits, withdrawals, conversions, and trading) on June 5 to ensure the migration is secure and consistent. Your funds will remain safe and will be visible as native DYDX once the process is completed.

Can I still deposit or withdraw DYDX during this process?

No. DYDX deposits and withdrawals will be disabled starting June 5. Once the migration is complete and our systems are ready for the new network, we will let you know and re-enable all functionalities, including trading, conversions, and transfers.

What happens if I accidentally send ethDYDX to my Bitso wallet after June 5?

Please be very careful: Any ethDYDX tokens sent to Bitso after the migration pause, will be permanently lost. They cannot be recovered, as Bitso will no longer support the Ethereum version of DYDX. Always verify that you're using the correct network and address from your Bitso app before depositing.

What is native DYDX and why is it important?

Native DYDX is the token used on the new dYdX Chain, a dedicated Layer 1 blockchain built using Cosmos SDK. It introduces significant improvements, such as full decentralization, staking rewards for validators and delegators, and on-chain governance. These features are not available with ethDYDX.

What are the benefits of this migration for me as a user?
With native DYDX, you gain access to:

  • Better performance and scalability for the trading protocol.
  • Enhanced security through native staking instead of smart contract intermediaries.
  • Full community governance on protocol upgrades and changes.
  • Distribution of protocol rewards to DYDX stakers.

Will I see DYDX under a new label in my Bitso account?

No, DYDX will remain labeled as such, but the underlying network will be the dYdX Chain instead of Ethereum. All your interactions (deposits, withdrawals, trades) will automatically use the native DYDX version.

 

Disclaimer

This Help Center article is intended for informational purposes only and does not constitute investment, financial, legal, or tax advice. The information provided herein may be subject to change without notice and should not be relied upon as a substitute for independent judgment or consultation with qualified professionals.

Crypto assets, including DYDX, are subject to significant market risks, including price volatility, loss of value, and regulatory changes. Past performance is not indicative of future results. Bitso does not guarantee the future performance or utility of any listed asset.

Users are encouraged to conduct their own research (DYOR), understand the risks involved, and make investment decisions based on their own objectives and risk tolerance. Trading or holding crypto assets carries a risk of financial loss. Please invest responsibly.

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