Dango Announces Shutdown: Trading to Halt on July 29, L1 Network to Close on August 13

July 25th, DeFi platform Dango announced the termination of project operations. The team stated that despite their best efforts, they were unable to find a viable path to long-term business success due to various reasons.

Dango stated that user funds' security and withdrawal restrictions will be lifted in the short term. Users are advised to close their positions and withdraw their funds as soon as possible. Users are also reminded to be cautious of slippage risks as liquidity is expected to decrease. The specific schedule is as follows:

· July 29th, 12:00 UTC: Trading on the platform will be halted, and remaining positions will be settled based on the oracle price. DLP Vault deposits will be unlocked, and all funds will be returned to users' spot accounts in USDC form.

· August 13th, 12:00 UTC: The Dango L1 blockchain will cease operation, and funds not withdrawn will be returned to users' deposit addresses on Ethereum.

The Dango team expressed deep regret for not being able to continue advancing the project and thanked the community for their long-term support.