It is with deep regret that we’re sunsetting Demex. Following the September 25 bridge exploit, we’ve made the difficult decision to sunset the platform. Running a decentralized exchange safely takes a well-funded, fully staffed team that can defend against new threats continuously. We no longer believe we can meet that bar responsibly, so the right thing to do is close the platform and return funds while we still can. We’re sorry to everyone who believed in Demex. Our priority now is making this as smooth and safe as possible. The team will top up amounts lost in the exploit as needed. Every account will be automatically settled using balances and prices at the moment the chain halted. Please read the full details carefully in our blog post: blog.dem.exchange/p/e1e04c5a…

Dear Demex Community, We're writing to share an important update. On 25 September, the Demex bridge was exploited. As a result, Demex will remain halted until further notice. We ask for your patience while we work through this, and we will keep you updated at each step. Our full post-mortem covering what happened is available below. blog.dem.exchange/p/1b89b5fa… Thank you for your patience, The Demex Team

Hi Demex community, We want to update you on the timeline for our incident post-mortem report. Our team has been conducting a thorough review of what happened, and its impact. We will publish the full post-mortem within the next 48 hours. It will include: - A detailed timeline of the incident - Root cause analysis - Impact assessment We appreciate your patience as we make sure this report is thorough and accurate.

⚠️ Demex Chain Halt We are aware of an ongoing potential incident affecting the Demex chain, and the chain has been halted temporarily. Trading, deposits & withdrawals are temporarily paused while we investigate the situation.

Demex chain precautionarily halted We're aware of the ongoing security incident affecting the Cosmos EVM module disclosed by Cosmos Labs. Demex does not run Cosmos EVM. Our EVM module uses a legacy Ethermint implementation that may share affected code, so we have halted the chain at block 98,599,360 out of an abundance of caution. We have verified that no funds has been lost by reconciling balances and confirmed the bonded token pool matches the pool address balance. All actions including trading, deposits & withdrawals are paused until the chain resumes. Because the EVM module has no usage currently and no longer receives upstream support, we will be removing the feature from the chain for now. This will happen when we upgrade the chain and resume operations momentarily. MetaMask connectivity and 0x-format addresses remain unaffected. We're targeting a restart today and will publish an update soon. No action is required from users.

📢 IBC Client Connection Update To improve network efficiency and focus resources, Demex will be discontinuing IBC client connections by the end of July, except for: ⊹ @axelar ⊹ @osmosiszone ⊹ @noble_xyz This allows us to prioritize reliability and security on our core interoperability partnerships.

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It's live. New $DMX pools & markets are now available on Demex ⚡ Dive in and start exploring today! app.dem.exchange

The new era of Demex starts tomorrow. Existing SWTH pools and markets will be deprecated and replaced by new DMX pools and markets. 🪂🫡

Gov proposal for DMX distribution is now live: scan.dem.exchange/governance… This proposal modifies the current proposal slightly based on community feedback. What this proposal is about: 1. Supersedes proposal 384, removing the need to mint DMX tokens 2. Maintains a 10% total supply ratio for Demex Points program (100m -> 230m airdrop) 3. Adds a vesting schedule to Demex Points airdrop (10% per year) 4. Allows minting of tokens only for gov approved programs, while still guaranteeing the previous minimum supply ratio for holders 5. Switcheo Labs treasury continues to fund at least 100m DMX tokens

The previously shared Points-to-DMX conversion was incorrect. The correct figures are: ⊹ Total Points: 867,931,317 ⊹ Total DMX Airdrop: 100,000,000 DMX 8.679 points = 1 DMX The same requirements still apply: ⊹ Minimum 100 points to be eligible ⊹ 100,000,000 DMX total airdropped We apologize for the confusion and appreciate your understanding.