Dango, a decentralized exchange built for perpetual contract trading, is shutting down operations after concluding there was no realistic path to lasting commercial viability. Trading ceases on July 29 at 12 pm UTC, with its underlying Layer-1 blockchain going dark entirely on August 13. Launched in April 2026, barely three months after mainnet launch, the project had raised $3.6 million in seed funding in November 2024, processed $239 million in 30-day trading volume and held approximately $1.77 million in total value locked. User funds will be returned in USDC at oracle prices, after the platform suffered a $1.9 million exploit targeting its insurance fund in April, from which all user funds were recovered.
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