acalanetwork

❌ ACALA AND KARURA, TWO DEFI BLOCKCHAINS IN THE POLKADOT ECOSYSTEM, ANNOUNCED THEIR SHUTDOWN!

💀 The Acala team officially announced the shutdown of two blockchains—Acala and Karura. After seven years of operation, the networks plan to permanently shut down on February 10, 2027, pending approval in community votes.

🔗 Users are being advised to withdraw DOT, KSM, USDT, USDC, and other external assets. But holders of the native ACA and KAR tokens have been offered no compensation, buyback, or migration to other networks.

🤦‍♂️ The most interesting part is that users are already complaining they can't sell KAR. There are practically no centralized exchanges with sufficient liquidity, and trading pairs on DEXs don't guarantee that swaps will be possible. The situation with ACA is only slightly better.

📉 The team says the shutdown is due to a lack of liquidity and no further development prospects. So, after seven years spent building a promising DeFi ecosystem, they're now simply telling holders of the native tokens to keep their investments.

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Another batch of junk blockchains is going down in history. In my opinion, USDT is the most reliable crypto right now!

#AcalaNetwork #karura

The wave of public blockchain shutdowns has reached the Polkadot ecosystem.

@AcalaNetwork, one of the first parachains in the Polkadot ecosystem, and its sister chain Karura have publicly announced on X that they will shut down their networks through proposals.

The Acala chain’s genesis block officially launched on December 18, 2021. It has now been running smoothly for nearly five years, making the shutdown announcement all the more poignant.

Moonbeam/Moonriver shut down earlier, and now it’s Acala/Karura’s turn. The entire Polkadot ecosystem is in tatters.

#AcalaNetwork $ACA