Huo Xing Cai Jing reports that, according to official announcements, the Dango team has decided to shut down the platform due to various reasons, as there is no longer a viable path to achieving sustained commercial success. The team emphasized the security of user funds, stating that withdrawal restrictions will be lifted shortly, and advised users to close their positions and withdraw their funds as soon as possible, while cautioning that liquidity is expected to be thin and slippage risks should be carefully considered. At 20:00 Beijing Time (12:00 UTC) on July 29, Dango will cease trading; all remaining positions will be closed at oracle prices, DLP gold reserve deposits will be unlocked, and all funds will be refunded to users’ spot accounts in USDC. At 20:00 Beijing Time (12:00 UTC) on August 13, the Dango L1 blockchain will cease operations. Any unwithdrawn deposits will be refunded to users’ original Ethereum deposit addresses.
Dango Announces Cessation of Operations; Trading to Cease on July 29
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Summary
Dango has issued a project announcement confirming the cessation of its operations. The team cited multiple challenges that have rendered continued commercial viability unfeasible. Trading will cease on July 29 at 20:00 UTC, with all remaining positions closed at oracle prices. Users will receive funds in USDC from the DLP treasury. The Dango L1 blockchain will be shut down on August 13, with any remaining deposits returned to Ethereum addresses. This on-chain announcement marks the final phase of the platform’s closure.
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