One-stop trading platform Dango said it will shut down after concluding there is no viable path to sustained commercial success. In an official notice cited by ChainCatcher, the team said user funds remain safe and that withdrawal restrictions will be lifted in the near term. It urged users to close positions and withdraw funds as soon as possible, while warning that liquidity is expected to be thin and slippage risk should be taken seriously.
Dango said trading will stop at 20:00 Beijing time on July 29, or 12:00 UTC. Any remaining positions will be closed at oracle prices, DLP vault deposits will be unlocked, and all funds will be returned to users' spot accounts in USDC. The team also set a second deadline for the broader network shutdown.
At 20:00 Beijing time on Aug. 13, also 12:00 UTC, the Dango L1 blockchain will stop operating. Any deposits that have not been withdrawn by then will be sent back to the original Ethereum deposit addresses, according to the announcement.
According to an official announcement cited by ChainCatcher, one-stop trading platform Dango said it will shut down after determining that, for various reasons, the project no longer has a viable path to sustained commercial success.
The team said user funds are safe and that withdrawal restrictions will be lifted in the near term. It also advised users to close positions and pull funds out as soon as possible, while warning that liquidity is expected to be thin and slippage risk should be taken into account.
Trading to stop on July 29
Dango said trading will stop at 20:00 Beijing time on July 29, which is 12:00 UTC. Any remaining positions will be closed at oracle prices, DLP vault deposits will be unlocked, and all funds will be returned to users' spot accounts in USDC.
Dango L1 to cease operations on Aug. 13
At 20:00 Beijing time on Aug. 13, also 12:00 UTC, the Dango L1 blockchain will stop running. Any deposits that have not been withdrawn by that time will be returned to the original Ethereum deposit addresses, according to the notice.
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