after just 3 months, @dango is officially shutting down a project that started with an exploit never had much of a chance timeline: • April 8 - Perps mainnet launch • April 13 - Exploit of the insurance fund logic: attacker drained ~$1.9M USDC ($410k to Ethereum, $1.49M returned) • April 14–15 - Points Program launch → ~$20M daily volume • April 20 - Announced Q4 TGE, ~50% supply for airdrop, max ~37 weeks of points • April 20–21 - Volume spiked to $30–40M+ • May - $800M+ cumulative volume in the first month + integrations • June - Commodities (WTI/Brent) + massive Summer Boosts (up to 1000% points) • July 2 - Simplified onboarding (cards, Apple Pay, Google Pay, any chain) • July 14 - Integration with @swapperfinance (deposits from Hyperliquid, Lighter, Polymarket) • July 24 - Official wind-down announcement reason: no viable path to lasting commercial success I’m not gloating I actually feel sorry for those who spent money on fees and lost capital on bad PNL I never traded here - I don’t even have an account in 2026, a ton of projects either shut down or got exploited: @SatoriFinance, @cascade_xyz, @ventuals, @Dreamcash, @dango, @Ostium, @AFX_XYZ and this is far from over simple takeaway: be much more careful when choosing which perp DEX to farm, especially right now
Regrettably, we've made the decision to wind down the Dango project. Despite our best effort, various reasons have led us to conclude there is no viable path to a lasting commercial success. Funds are safe. Limits to withdrawals will be lifted shortly. We encourage you to close positions and withdraw funds. Be careful of slippage, as liquidity is expected to be thin. On Wednesday, July 29, 12 pm UTC, trading will be halted. Remaining positions will be closed at oracle price. DLP vault deposits will be unlocked. All funds will be returned as USDC to your spot accounts. On Wednesday, August 13, 12 pm UTC, the Dango L1 blockchain will stop running. Deposits not withdrawn at this point will be refunded to their deposit addresses on Ethereum. To our users: thank you for the support, and we're deeply sorry for not being able to make it work.
· 13K Views
