Ventuals has officially ceased operations for its HIP-3 decentralized exchange (DEX), allowing holders of vHYPE tokens to begin withdrawals. This decision follows the processing of a withdrawal queue totaling approximately 380,775 HYPE, completed around 10 AM ET today.
Details on Withdrawal Process
For those who had initiated a withdrawal prior to today, their requests have been automatically included in this batch. The timeline for the claims is set, with a 7-day unstaking period followed by an additional 12-hour cooldown period, leading to a total of 7.5 days before tokens can be claimed. For the current batch, the claim window will open at 10 PM ET on June 26.
Moving forward, new withdrawal requests will be processed every 24 hours at 10 AM ET. If a request is not included in today's batch, it will roll over to the next day’s processing.
Commitment to Full Returns
Ventuals has assured all vHYPE holders that they will receive a full 1:1 return of their HYPE tokens along with any accrued staking yield since their deposits. The company has emphasized that there will be no partial returns or hidden fees associated with this process, marking a clear and straightforward outcome for users.
This finality is critical for users with funds in vHYPE, as there are no further opportunities for gains within a product that has been fully shut down.
Rationale Behind Immediate Withdrawals
Ventuals is actively urging all vHYPE token holders to initiate their withdrawals promptly. The rationale is clear: with the DEX no longer operational, there is little benefit in retaining HYPE tokens in a defunct platform. The recommendation serves as a proactive measure to ensure all holders can recover their assets without delay.
This material is for informational purposes only and does not constitute financial advice.
