Dango announced the cessation of operations: suspended trading on July 29 and closed L1 network on August 13

On July 25, DeFi platform Dango announced that it would end project operations. The team stated that despite its best efforts, it was unable to find a feasible path to long-term commercial success due to various reasons. Dango said that users 'funds are safe and withdrawal restrictions will be lifted in the short term, and advised users to close positions and withdraw funds as soon as possible. At the same time, users are reminded of the risk of slipping points, as liquidity is expected to decline. The specific arrangements are as follows: ·July 29, 12:00UTC: The platform will stop trading, remaining positions will be settled according to the oracle price, DLPVault deposits will be unlocked, and all funds will be returned to the user's spot account in the form of USDC.·August 13, 12:00UTC: The DangoL1 blockchain stops operating, and unwithdrawn funds will be returned to the user's deposit address on Ethereum.