Odaily Planet Daily reports: Satori Finance, a multi-chain decentralized exchange backed by institutions including Polychain Capital and Coinbase Ventures, has announced it will cease operations and enter a wind-down process. The platform cited “prolonged unfavorable market conditions” as the reason its revenues are insufficient to sustain ongoing operations, leading to the decision to gradually shut down. Users must withdraw their assets by July 16, 23:59 UTC; after this time, the platform will no longer be accessible.
Satori Finance raised a $10 million seed round in 2022 led by Polychain Capital, with participation from Coinbase Ventures, Jump Crypto, and others. It deployed across multiple networks including Arbitrum, Optimism, and BNB Chain, and initially promoted a 25x leverage model alongside a "points mining" incentive system. (The Block)