Dango, a perpetuals DEX running on its own Layer-1, is shutting down after concluding there is no viable path to lasting commercial success. The team cited a short cash runway, legal and compliance delays, team departures and tough market conditions.

Trading halts on July 29 (12:00 UTC), and the Dango L1 blockchain shuts down permanently on August 13. Open positions settle at oracle prices and all balances convert to USDC.

"Despite our best effort, various reasons have led us to conclude there is no viable path to a lasting commercial success," the team said. Users should close positions and withdraw before July 29; any assets left behind will auto-return to their original Ethereum deposit addresses as USDC.

Dango was built by Left Curve Software and raised a $3.6M seed in November 2024 led by Lemniscap and Hack VC. It has no live token.