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Dango announces it will stop operations, pausing trading on July 29 and shutting down its L1 network on August 13.

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Odaily Planet Daily news: DeFi platform Dango announced that it will end project operations. The team said that due to multiple factors, it cannot find a feasible path to achieve long-term commercial success. Dango said user funds are safe; withdrawal limits will be lifted in the short term. It also advised users to close positions and withdraw funds as soon as possible, while reminding users to watch out for slippage risk, as liquidity is expected to decline.

The specific plan is as follows: at 12:00 UTC on July 29, the platform will stop trading; 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 the form of USDC. At 12:00 UTC on August 13, the Dango L1 blockchain will stop running, and any funds not withdrawn will be returned to the user’s deposit address on Ethereum.
L1-9.26%
USDC0.00%
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