Drop Protocol, a liquidity staking platform within the Cosmo ecosystem, has announced its decision to shut down due to unfavorable market conditions and ecosystem direction. The protocol will cease operations in an orderly and transparent manner, ensuring the interests of all stakeholders are considered. While Drop will no longer pursue token generation events (TGE) and airdrops, it is exploring ways to distribute protocol revenue to participants as a reward.
The shutdown process includes a smooth transition phase for all dAssets, with dTIA and deINIT services gradually ceasing. Withdrawals will be reopened with prior notice, while dATOM and dNTRN will continue to be supported. This decision follows Drop Protocol's $4 million seed funding round led by CoinFund in October last year.
Drop Protocol Announces Shutdown, Cancels TGE and Airdrops
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