Omnity Network said it will gradually shut down after running out of operating funds, according to an official announcement cited by BlockBeats on Sept. 28. The team said its Bitcoin DeFi products, RichSwap and Satsman, will cease operations within the next 30 days. RichSwap liquidity providers were urged to withdraw liquidity as soon as possible. Omnity also said it plans to upgrade its smart contracts to remove existing lock-up restrictions so users can withdraw funds without limits. A detailed timetable and liquidity withdrawal guide will be released soon. During the transition, support channels will remain open for 30 days to help users complete the process. Although the project is ending, Omnity said core team members will continue supporting the Bitcoin ecosystem and plan to stay involved through personal efforts and developer collaboration groups.
Omnity Network will gradually cease operations after exhausting its operating funds, according to an official announcement cited by BlockBeats on Sept. 28.
Its Bitcoin DeFi products, RichSwap and Satsman, are scheduled to stop operating within the next 30 days. The team urged RichSwap liquidity providers to remove liquidity as soon as possible and said it will upgrade smart contracts to lift existing lock-up restrictions, allowing users to withdraw funds without limits.
Omnity said a detailed operating timetable and a liquidity withdrawal guide will be released soon. Support channels will remain open for 30 days during the transition to assist users with the process.
The project also said that, despite the shutdown, core team members will continue to support the Bitcoin ecosystem and plan to take part in related development through personal efforts and developer collaboration organizations.
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