Odyssey Sunset
We’ve made the decision to sunset the current deployment of Odyssey.
We are requesting all traders withdraw their funds over the next few days. If traders take no action, their balance will be automatically distributed to them by October 4th.
We plan to publish a post covering the full business context of this move at the beginning of November. For now, our team is solely focused on making sure all of our users are able to safely close their positions and remove funds from the protocol.
All Markets will be Settled on September 27.
As of 7pm UTC today, all markets on Odyssey are in close-only mode.
Traders may submit orders to close their positions until September 27 at 7pm UTC. Any positions that users do not close themselves before then will be settled with no trading fees and funds will be returned to trader’s primary accounts within Hook Chain.
To ensure maximum liquidity is available for traders with open positions, liquidity pools will continue operating and quoting until the final settlement of all contracts. Pool withdrawals will be processed after market settlement.
Pool Depositors can Withdraw Liquidity after Market Settlement
After markets are settled, pool depositors will be able to withdraw their liquidity.
Pool depositors can initiate withdrawal requests now, but they will be processed following the settlement of all markets.
Our pools operate under a 7 day withdrawal period which we plan to honor. If you request a withdrawal now, it will be processed at the earliest in 5 days from now when the markets are settled.
Remaining Liquidity will be Automatically Withdrawn
If you do not withdraw your funds from Odyssey/Hook Chain by October 1, you will receive your balance on Ethereum Mainnet or Arbitrum One by October 4. Remaining deposits will be distributed to addresses used for initial deposits.
This withdraw will be accomplished via a protocol upgrade that will occur on October 1. The goal of this upgrade is to ensure that no users end up with locked funds on the protocol.
We will post a CSV with addresses of users who did not withdraw before the protocol upgrade that includes the address, balance, and chain where their deposits now reside. This CSV will be pinned on our Twitter Account so depositors can later find their funds if they miss this announcement.
As a reminder, this process will only include users who don’t withdraw from Odyssey/Hook Chain before October 1.
What’s next for Hook
We will share additional details on Hook’s future in early November once the shutdown is complete.
In the meantime, we will be posting a recap of Odyssey’s activity next week.