Decentralized perpetual exchange Dango shut down less than four months after launch, holding just under $391,000 in open interest. This closure is part of a wave of crypto platform shutdowns in July, including 11-year-old perpetual futures pioneer BitMEX. Restructuring adviser Roshan Dharia said the top five platforms now control an estimated 80% of global spot volume, leaving mid-tier exchanges with no viable path to scale. Other recent closures include DEX aggregator Odos Protocol and perp DEX Satori Finance.
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