Merkle Trade, the largest decentralized perpetual futures exchange on Aptos by trading volume, said in an X post on Feb. 3 that it will begin winding down operations over the coming weeks.
The team said the decision followed “careful consideration” and comes after the platform processed nearly $30 billion in cumulative trading volume since launch. Without specifying a reason for the winddown, the statement concludes: “But we are proud of what we built, and grateful to everyone who was part of it.”
According to the announcement, new positions will be disabled on Feb. 6, with all remaining positions forcibly closed on Feb. 10. Merkle Trade’s native MKL token will become redeemable without fees or withdrawal delays, while a final revenue distribution is scheduled for Feb. 12, after which staked MKL can also be redeemed, the announcement said.
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