LXDX, a crypto derivatives exchange, announced it will be halting trading effective October 31st. The LXDX team says that it is not going anywhere, and is currently working on improvements to its technology in stealth mode, which will be made public in 2020.
Concerning the shutdown process, LXDX is asking users to withdraw assets before October 31st. There will be no more warrants listed for trade. Cash pairs will continue to trade until October 18th. Deposits will be frozen starting October 15th. Matching engines will halt on the 18th, and all APIs will become inactive. As noted, users will be able to log in and continue to withdraw their funds until the end of the month.
Joshua Greenwald, CEO of LXDX said:
“For our fans, we appreciate your genuine support and the faith you put in us. While we never attracted meaningful volumes to our platform, for which we’re well humbled, I’m proud of what our team has accomplished, technologically: The first exchange supporting colocation in cryptol By far, the fastest exchange technology ever in the space (full order in to order out in < 10 microseconds!), the first market for warrants on cryptocurrencies. One of the very first exchanges to make it into the Malta VFA Sandbox (we’re extremely grateful for the help we received from the Malta regulators)”
Back in August 2018, LXDX received backing by Dymon Asia Venture Capital Fund LP, the venture capital arm of Dymon Asia Capital, an alternative investment manager headquartered in Singapore with approximately US$4.9 billion under management.