Satori Finance announced that it will cease operations of its decentralized exchange platform on July 16. The company disclosed that the prolonged unfavorable market environment has made it impossible for the platform's revenue to continue supporting the business, and users will be required to close their positions and withdraw their assets before the deadline.
Complete withdrawal before July 16th
According to a statement released by Satori on June 16, the platform has initiated the shutdown process, and withdrawals will be available until 23:59 (UTC) on July 16, 2026. The team requires users to close any open positions and withdraw their assets during the transition period.
Satori stated that the platform will cease operation after the deadline, and users may be unable to continue accessing it if their assets remain on the platform. The team also stated that user assets will remain under user control during the transition period.
Cumulative trading volume exceeds US$134 billion
Satori primarily offers leveraged perpetual contract trading, supporting up to 25x leverage, and has expanded to networks such as Polygon zkEVM, Zircuit, BNB Chain, Arbitrum, Scroll, and Optimism. The protocol previously stated that its platform serves over 600,000 traders.
Despite cumulative perpetual contract trading volume exceeding $134 billion, the platform's activity has slowed significantly in recent months. The report cites data showing that Satori's trading volume over the past 30 days was approximately $3.2 billion, with open interest at approximately $559,000.
According to DeFiLlama data, Satori currently has a total locked value of approximately $1.2 million, having peaked at $6.7 million in 2024. The platform's annualized transaction fee revenue before announcing its shutdown was approximately $3 million.
- Cumulative perpetual transaction volume: approximately US$134 billion
- Current total value locked: approximately US$1.2 million
- Trading volume over the past 30 days: approximately $3.2 billion
Some users have reported difficulties with cross-chain withdrawals.
Following the announcement, some users on the X platform reported difficulties withdrawing assets from networks outside of Ethereum. Satori has not yet issued a public response to these individual reports.
Satori was founded in the phase of a crypto project attracting users through points incentives, and in May 2022, it completed a $10 million seed round of funding, led by Polychain Capital, with participation from institutions such as Coinbase Ventures and Jump Crypto.
This shutdown continues the trend of crypto projects scaling back this year. Previously, Bitcoin scaling project Botanix announced the cessation of network operations; crypto payment platform Pyra also stated it would shut down its operations after incurring losses related to the Drift vulnerability.
