As part of our efforts to comply with evolving regulatory requirements and with the sale of Bake to GSTechnologies, Bake will discontinue its dCrypto unwrapping service on 28 February 2025. This change affects all dCrypto tokens, including dBTC, dETH, dUSDC, dUSDT, dLTC, dEUROC, dDOGE, dBCH, dSOL, dSUI, and dDOT.
To ensure a smooth transition for our users, we’ve outlined everything you need to know below, including what this means for your dCryptos and how you can prepare before the deadline.
This change only affects users who hold dCryptos on the DeFiChain blockchain. If you are a Bake customer who does not own any dCryptos on DeFiChain, you do not need to take any action, as you are not affected by this update.
This change aligns with regulatory requirements that restrict Bake from continuing to offer unwrapping services for dCrypto tokens. The functionality to unwrap dCryptos will no longer be available after 28 February 2025.
Unredeemed dCryptos will remain tradable within the DeFiChain ecosystem. However, Bake will no longer provide a mechanism for redeeming or unwrapping dCryptos after the deadline.
As of 23 December 2024, all Liquidity Mining positions on Bake, including fixed-term positions, will be automatically deallocated. If you’re holding any active positions, the underlying tokens will be returned to your wallet.
If you wish to unwrap your dCryptos through Bake, we recommend doing so before 28 February 2025. After this date, unwrapping will no longer be supported on the platform.
To unwrap your dCryptos:
GSTechnologies will explore the possibility of introducing a new bridging service in the future, pending further evaluation and market considerations.
Thank you for your understanding and cooperation as we implement these necessary changes. Bake remains committed to providing the best possible experience while navigating regulatory updates.
If you have any questions or need assistance, please don’t hesitate to contact our support team at https://support.bake.io/.
The Bake Team
