StandX Shuts Down After Cancelling Token Launch
Photo: DeFi Planet
StandX, a decentralized exchange (DEX) for perpetual futures trading, has announced that it will gradually shut down its operations and cancel its planned token generation event (TGE). The platform was founded by Aaron Gong, the former head of Binance Futures, alongside other former employees of Binance and Goldman Sachs. Unlike many crypto projects, StandX operated without funding from venture capital (VC) firms. Despite attracting 237,000 users and reaching a peak of $200 million in total value locked (TVL), StandX struggled to become one of the top three perpetual DEXs.
Source: DeFi Planet
