Dango to shut down service, halt trading on July 29

One-stop trading platform Dango announced through its official channels that it will shut down after determining it is no longer feasible to continue the business. The team said user funds remain safely held and that withdrawal restrictions will be lifted in the near term. Dango will halt trading at 12:00 p.m. UTC on July 29, and all remaining positions will be liquidated in a batch at oracle prices. DLP deposits will be unlocked, and all funds will be returned to spot accounts in USDC. The platform said operations of the Dango L1 blockchain will also end at 12:00 p.m. UTC on Aug. 13. Deposits not withdrawn by that time will be refunded to the Ethereum addresses originally used for the deposits.