Written by dYdX Operations Services Ltd.
Table of contents
Close-only mode is a restrictive state on the frontend where users are only able to cancel orders, reduce / cancel open positions, and withdraw funds from the chain. A user will be placed in close-only mode when they violate the terms of use of the frontend deployment.
A user will be notified upon accessing the frontend that they have been blocked. The notification will indicate a time and date that positions need to be closed out before the ability to market close positions on the frontend becomes restricted. The notice will remain in the notification pane even after the notification is dismissed in case the user needs to reference any details.
When trying to place orders in close-only mode, all orders will automatically be set to reduce-only as new positions cannot be opened and existing position sizes cannot be increased. Deposit and transfers will also be disabled, but withdrawals will remain so funds can be off-boarded as normal. Open orders can be canceled and the user's secret phrase can continue to be exported.
Once the time and date in the compliance warning has passed, the user will be permanently blocked and will no longer be able to trade on the frontend. At this point, users will not longer be able to reduce or close out positions, they can only cancel open orders and withdraw their funds. Exporting the secret phrase will continue to be available on the frontend.
Disclaimer and Terms
This document may provide information with respect to the dYdX Chain software, and/or non-mandatory guidelines and suggestions that may help with using dYdX Chain software. dYdX Operations Services Ltd. does not run dYdX Chain validators nor operate or control the dYdX Chain network. dYdX Operations Services Ltd. is not responsible for any actions taken by other third parties who use dYdX Chain software. dYdX Operations Services Ltd. services and products are not available to persons or entities who reside in, are located in, are incorporated in, or have registered offices in the United States or Canada, or Restricted Persons (as defined in the Terms of Use). The content provided herein does not constitute, and should not be considered, or relied upon as, financial advice, legal advice, tax advice, investment advice or advice of any other nature, and you agree that you are responsible to conduct independent research, perform due diligence and engage a professional advisor prior to taking any financial, tax, legal or investment action related to the foregoing content. An asset's inclusion in a particular liquidity tier is not an endorsem*nt or recommendation of the asset, and trading in any asset supported by dYdX Chain may involve material risks, including the risk of financial losses arising from market volatility or liquidation. The information contained herein, and any use of products or services provided by dYdX Operations Services Ltd., are subject to the Terms of Use.
Did this answer your question?
