**[Dango Announces Shutdown: Trading Halts on July 29, L1 Network Closes on August 13]** BlockBeats News, July 25: DeFi platform Dango has announced the termination of its project operations. The team stated that despite their best efforts, they were unable to find a viable path to achieve long-term commercial success due to various factors. Dango assured users that their funds are safe, withdrawal restrictions will be lifted in the short term, and advised users to close positions and withdraw funds as soon as possible. They also reminded users to be cautious of slippage risks, as liquidity is expected to decrease. The specific arrangements are as follows: - **July 29, 12:00 UTC**: The platform will halt trading. Remaining positions will be settled based on oracle prices, DLP Vault deposits will be unlocked, and all funds will be returned to users' spot accounts in the form of USDC. - **August 13, 12:00 UTC**: The Dango L1 blockchain will cease operations. Any unwithdrawn funds will be returned to users' deposit addresses on Ethereum. The Dango team expressed deep regret for being unable to continue advancing the project and extended their gratitude to the community and users for their long-term support. [Original Link]