Zapper Shuts Down After 7 Years, Ending a Journey That Processed $13B

Key Takeaways:

• After nearly seven years, Zapper’s operations will come to a halt on August 3.
• The platform had over 2 million users and had achieved $13 billion in transactions a month.
• CEO Seb Audet said that considering options, an orderly wind down was the best option.

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    Follow us on Google NewsZapper is one of the more prominent DeFi portfolio management websites to announce its shutdown in the next month. It wraps the end of a project designed to enable millions of crypto users to handle their assets throughout the rapidly increasing decentralized finance sector.

Table of Contents

• Zapper Announces Full Shutdown
  • A Platform That Grew With DeFi
• The Team Looks Ahead
  • Experienced Engineers Seek New Opportunities

Zapper Announces Full Shutdown

Co-founder and CEO Seb Audet confirmed that after considering several options for the business, Zapper is going to be a permanent casualty. There were multiple options on the table, but Audet said the company eventually determined that it would be best to end in an orderly fashion.

From August 3rd, the Zapper service, encompassing the Zapper website, mobile apps and API products, will be offline. Existing API customers will receive migration instructions to help move to alternative solutions before the shutdown.

Audet referenced the news that Zapper began as a personal portfolio tracking app during its origins in the early days of DeFi as he recalled its path. It gradually transformed into one of the most popular on-chain dashboards in the market.

When at its height, Zapper handled over 2 million people per month and facilitated over $13 billion in transaction volume, which made it a favored site for wallet trackers, liquidity pools, yield farming roles, and much more.

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A Platform That Grew With DeFi

Zapper was established at the dawn of the decentralized finance (DeFi) movement; its meaning was that it streamlined the labyrinthine DeFi world while enabling people to track their assets across different platforms.

As the crypto market continued to grow, the platform added features to complement NFTs, multi-chain portfolios, and more onchain analytics. With these tools, users could manipulate more complicated DeFi trades without needing to switch through several NFT and decentralized application web sites.

Audet appreciated support from users, investors, employees, advisors and the community for all seven years of Zapper’s existence. He said that the company never got it right in creating a platform that made DeFi available to all, but it did make the on-chain experience more convenient for many for the project’s original purpose.

## The Team Looks Ahead

Experienced Engineers Seek New Opportunities

While Zapper is winding down, Audet said that the engineering and operations team now continues to work on the platform for new opportunities. He went on to say that the team had built so many products that reached millions of users, and moved billions of dollars in activity on-chain.

There was no explanation given in the announcement as to why the shutdown was being made. On the contrary, the decision came after a careful reassessment of company options, which marks the conclusion of a 7-year year-long saga of one of the most well-known portfolio management platforms in DeFi.

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