ทวีตที่ปักหมุด
It is with a heavy heart that we announce Umbrella Network will be ceasing operations in September 2025.
It has been an incredible few years since our founding in 2021. Since then, we have launched our innovative Layer 2 oracle solution, our Bridge and Passport solutions, expanded into new ecosystems, and developed our current on-chain oracle solution and partnerships with well-known Layer 1s. We have accomplished so much together.
However, the difficult environment for smaller data solutions and infrastructure providers, along with a prolonged crypto winter for smallcap projects, has severely affected our treasury over the course of the past several years. While the team did their best to cut costs and preserve capital to extend the runway, we are now in a critical position.
In light of this, we have decided to initiate a controlled shutdown of operations, with our focus remaining, as always, on our community, customers, and partners.
Key Information for $UMB Holders
- Our oracle, Passport, and Bridge products will cease operations on September 30, 2025.
- The Staking program will continue to run as planned until March 20, 2026.
- $UMB token will continue to be listed in current CEXs and DEXs, the liquidity on Uniswap and Pancakeswap provided by the team will remain, though there will be no guarantee on the future status of the token listed on current CEXs.
We want to thank all of you for your support over the years. You have been an incredible community.
We will publish more information about the shutdown process in the coming weeks.
English
