Odaily Planet Daily reports that Ducat has announced its decision to gradually shut down the protocol. Originally designed to maintain a price floor through specific mechanisms, many participants never fully understood these mechanisms. During the protocol shutdown, the team will demonstrate that the Ducat treasury assets fully back the protocol, with each DUCAT representing a proportional claim to the protocol’s treasury assets. All rights related to DUCAT treasury assets—including vested bonds, vested Pass rewards, staked pDUCAT, pDUCAT in cooldown, and circulating DUCAT in wallets—are redeemable without requiring the cooldown period to expire. Ducat states that the team has taken a snapshot of DUCAT holders; holders included in the snapshot may redeem the fair value of their DUCAT from the protocol treasury. DUCAT purchased via liquidity pools after the snapshot is not eligible for redemption. The team has also updated the frontend interface to enable users to complete redemptions.
Ducat Announces Protocol Closure and Opens Treasury Asset Redemption
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Summary
Ducat has announced a protocol update, revealing plans to gradually shut down its platform and initiate treasury asset redemptions. During the closure, DUCAT holders can redeem their tokens for a proportional share of treasury assets. A snapshot was taken to determine eligibility, including vested bonds, staked pDUCAT, and circulating DUCAT. The team has updated the frontend to simplify the redemption process. Digital asset news highlights this move as a key development for token holders.
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