Hyperwave Announces Protocol Closure on December 16; Vaults Now Withdraw-Only

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Hyperwave announced a protocol update on November 11, revealing that the project will cease on-chain operations by December 16 due to rising costs and regulatory challenges. Vaults are now in withdrawal-only mode, including GWAVE, with the remaining net asset value to be returned to token holders. Yield generation will continue during the transition as assets are converted for withdrawal. Pre-closure income will be used to purchase and burn HWAVE. Users are urged to withdraw their funds and avoid phishing links during the shutdown.

According to Huoxing Finance, on November 11, Hyperwave announced that, due to rising operational costs and regulatory uncertainty, the project has decided to gradually cease operations. The protocol will be officially shut down on December 16, and users are advised to withdraw their funds before this date to ensure faster processing. After the shutdown, any remaining net asset value (NAV) will be returned to wallets holding treasury tokens. All treasuries have now been switched to withdrawal-only mode, including GWAVE, allowing users to unstake at any time. During the period of converting funds into underlying assets in preparation for user withdrawals, the treasuries will continue to generate yields. Additionally, all revenue generated prior to the protocol shutdown (100%) will be used to repurchase and burn HWAVE tokens. The project team reminds users to remain vigilant and avoid phishing links during the shutdown period. For questions regarding the shutdown arrangements, users can contact official support via Discord or in-app support.

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