How To Move Your FinRev Account From dYdX V3 to dYdX V4

dYdX V3 have officially ceased trading operations as of October 28th, 2024 and require that all accounts connected to dYdX V3 be moved across to the new dYdX V4 to re-commence trading. If your account is still connected to dYdX V3, you will need to complete the steps in this guide as son as possible.

This guide will walk you through the process of closing your account on V3, moving your funds and reconnecting to dYdX V4.

If you are completing this process for multiple accounts, you will need to complete the process individually for each account, ensuring that you only connect one wallet each time. Each account requires a separate API key and cannot be connected simultaneously.

Note for US & UK users: Please ensure you have activated your VPN & set the location to Sydney, Australia prior to logging onto the dYdX website.

Withdraw Your Funds From dYdX V3

Note: Please ensure you have at least $300 in ETH in your Metamask wallet before starting the Escape Hatch process.

1. Head over to dydx.exchange
2. Hover your mouse over 'products'
3. Click on 'trade V3

4. Ensure the Metamask wallet that is connected to FinRev is connected to dYdX, and you are on their website, connected to V3 - https://trade.dydx.exchange

   
   

5. Click on “Withdraw”

   

   
   
6. Click on 'Escape Hatch'

7. You will be directed to another screen. Scroll further down this page until you see ‘Escape’. Click on ‘Escape’

8. After you click on ‘Escape’, the following screen will be displayed. Click on ‘Initiate Escape’. 

9. You will then be shown the transaction in MetaMask cost to Initiate Escape. Click on ‘Confirm’. If you do not see the Metamask transaction notification, wait for 5 minute, then refresh the page and try again.

10. Your transaction will then be submitted. Once the transaction is complete, click on ‘Close extension’

The first layer of the Escape transaction is now initiated. You will have to wait for the Initialise Escape data to be mined. This process can take several minutes.  

After the first section of the escape has been completed and mined, the next section will appear and begin a data submission.

This section can take up to several hours.

11. Once the second level of mining has completed (2/2) you will see a confirmation on the screen.

12. Return to the dYdX user page by clicking on your wallet address

12. Click on 'Withdraw' again

    

14. Click on 'Escape Hatch' again

15. Click “finalize escape”and then on to withdraw funds.

16. Approve the transaction in Metamask

17. This process may take up to 5 minutes. Refresh the page if you do not see 'Withdraw Now'
18. Click “Withdraw now”.

19. Approve the Metamask transaction

Your funds will now be back in your Metamask wallet.

Connect Your Metamask Wallet to dYdX V4

1. Head over to dydx.exchange and click on 'Trade'

2. Click on 'Continue'

3. Click on 'Connect Wallet'

4. Click on 'metamask'

5. Select the wallet you wish to connect to FinRev (select ONE wallet only)
6. Click 'Next'

7. click 'Confirm'

8. Switch 'Remember Me' ON
9. Click on 'Send request'

10. Click on 'Sign'

11. Click on 'Sign'

12. Click on 'I agree'

Deposit Funds From Your Metamask Wallet to dYdX V4

1. Click on 'Deposit' in the top right hand side of your screen

2. Ensure 'Source' is set as 'Ethereum'
3. Set 'Asset' as 'USDC'
4. Either enter the amount you wish to deposit, or click on 'Max'

5. Click on 'Deposit funds'

6. Click on 'Next' (do not change any of the values)

7. Click on 'Approve'

8. Click on 'Confirm'

9. Once the transaction has completed, click on 'Close extension'. This may take several minutes to complete.

You should now see a screen that says 'Deposit in progress'

Please note that this can take up to one hour to complete. You can track the progress of the deposit by clicking on 'Show details'

Once the deposit is complete, you will see green ticks next to each step. You can now click anywhere on the screen to remove the popup box.

You can check that your deposit has been successful by viewing the balance under the 'Cross Free Collateral' section. If this has not been updated, try refreshing the page.

Connect dYdX V4 to FinRev Via API

1. Click on your wallet address in the top right hand side of your screen
2. Click on 'export secret phrase'

3. Click on the checkbox to confirm that you understand. You will need to wait for 10 seconds after checking the box.

4. Click on 'Reveal secret phrase'

5. Click on 'Copy'

6. Open a new tab and log into your FinRev account at finrev.trade
7. Once you have logged in, click on the profile icon oin the top right hand side of the screen
8. Click on 'Manage account'

9. Click on 'API credentials'

10. Click on 'Choose your exchange'
11. Select 'dYdX V4'
12. Paste your 'Secret Phrase' into the 'Secret Phrase' box
13. Click on 'Save'

Please allow up to 24 hours for the new connection to update the dashboard.

Manually Log Your V3 Withdrawal (if required)

dYdX typically auto-reports all withdrawals and deposits into & out of your account on the FinRev dashboard.

When disconnecting from dYdX V3 and connecting to dYdX V4, the withdrawal from dYdX V3 may not be logged automatically due to the delay in data reporting.

If after 24 hours your dYdX V3 deposit has not been automatically logged, please follow our guide to manually log the withdrawal to ensure your FinRev dashboard displays accurate figures.

How log manually log deposits/withdrawals in the FInRev dashboard

If you experience difficulties with any of the above steps, and need help from a coach to work through the troubleshooting process, please send a request to [email protected]