Ventuals Concludes HIP-3 DEX Operations, vHYPE Withdrawals Accessible Now

Ventuals has officially ceased operations of its HIP-3 decentralized exchange (DEX), with vHYPE withdrawals now fully functional for all holders. The platform reported processing around 380,775 HYPE in withdrawal requests by approximately 10 AM ET today.

Individuals who had pending withdrawal requests prior to today were automatically included in this batch. The timeline for claimable withdrawals is set at 7.5 days post-processing, which consists of a standard 7-day unstaking period from Hyperliquid combined with an additional 12-hour cooldown. For those in today’s withdrawal batch, the claim window will open at 10 PM ET on June 26.

Withdrawal Processing Details

Moving forward, Ventuals will handle new withdrawal requests on a daily basis, processing them once every 24 hours, also at 10 AM ET. Holders are urged to initiate their withdrawals promptly, as the platform assures that all HYPE will be returned on a 1:1 basis, alongside any staking yield accrued since their deposits.

Final Status of HIP-3 DEX

The HIP-3 DEX was established on the Hyperliquid platform. Its complete wind-down was recognized today when the last withdrawal queues were cleared. The process was described as definitive, rather than a temporary shutdown. Stakeholders are now focused on the efficiency of reclaiming their HYPE and ensuring no losses occurred during this transition.

According to Ventuals, every vHYPE holder will receive their assets back without reductions or exceptions. This commitment reflects a clean conclusion for the DEX closure, providing assurance to users that no significant risks accompanied the winding down.

Understanding the Withdrawal Timeline

The mechanics of the withdrawal timeline are crucial to comprehend. The established 7-day unstaking period is intrinsic to Hyperliquid's staking framework and was not an additional measure enforced by Ventuals. Following this period, the 12-hour cooldown results in a total of 7.5 days from the processing of withdrawals to when claims can be made.

For those who missed the initial withdrawal batch, the opportunity arises the following day at the same time, adhering to the same withdrawal timeline.