Dango's team said the one-stop trading platform will shut down because it no longer sees a viable path to sustained commercial success. According to ChainCatcher, withdrawal restrictions will be lifted in the near term, and users are being advised to close positions and remove funds as soon as possible amid expected thin liquidity and slippage risk.

Dango will stop trading at 8:00 PM Beijing time on July 29, 12:00 UTC. Remaining positions will be closed at oracle prices, DLP treasury deposits will be unlocked, and all funds will be returned to users' spot accounts in USDC.

The Dango L1 blockchain will stop operating at 8:00 PM Beijing time on August 13, 12:00 UTC. Any deposits that have not been withdrawn by then will be returned to the original Ethereum deposit addresses.