DeFi platform Dango said it will cease operations, laying out a two-step shutdown schedule that includes a trading halt on July 29 and the closure of its L1 blockchain on Aug. 13. The team said that despite making its best efforts, it was unable to find a viable path to long-term commercial success for the project.
According to the announcement, user funds remain safe and withdrawal restrictions will be lifted in the near term. Dango urged users to close positions and withdraw funds as soon as possible. It also warned users about slippage risk because liquidity is expected to decline during the wind-down process.
At 12:00 UTC on July 29, the platform will stop trading. Remaining positions will be settled using oracle prices, DLP Vault deposits will be unlocked, and all funds will be returned to users’ spot accounts in USDC. At 12:00 UTC on Aug. 13, the Dango L1 blockchain will stop operating, and any funds not yet withdrawn will be sent back to users’ deposit addresses on Ethereum. The team said it regrets being unable to continue the project and thanked the community for its long-term support.
DeFi platform Dango said on July 25 that it will end operations. The team said that despite its best efforts, it could not find a viable path to long-term commercial success.
Dango said user funds are safe and that withdrawal restrictions will be lifted in the near term. It advised users to close positions and withdraw funds as soon as possible. The team also warned about slippage risk, saying liquidity is expected to decline.
Shutdown schedule
- July 29, 12:00 UTC: Trading on the platform will stop. Remaining positions will be settled at oracle prices, DLP Vault deposits will be unlocked, and all funds will be returned to users’ spot accounts in USDC.
- Aug. 13, 12:00 UTC: The Dango L1 blockchain will stop running. Any funds that have not been withdrawn will be returned to users’ deposit addresses on Ethereum.
The Dango team said it deeply regrets that it could not continue moving the project forward and thanked community members for their long-term support.
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