Sometimes, the endings don’t come as we hope, but honesty is the best way to wrap up the journey. 💔
After 18 months of ambition on the Arbitrum network and expansion towards Monad, the PINGU platform has officially announced that it will cease operations permanently by July 31, 2026. Behind these words lie tough numbers and decisions made by the team with high ethical responsibility when they stopped receiving salaries since February, in an effort to salvage what can be saved.
Here’s what you need to know regarding your account and assets:
Trading Halt: Starting June 3 (at 21:00 UTC+8), the platform will be limited to closing open positions only, with no new positions allowed.
Safe Exit: The team has decided to inject 64.46 ETH into PINGU/ETH liquidity, giving 2024 token holders a chance to exit at a uniform price before the final shutdown.
Timeline: The exit window will remain open until July 31, which is when the platform will close its doors for good.
The team sincerely apologizes for not being able to fulfill the Monad point promises, a moment where we realize that technology, no matter how advanced, is still tied to real-world conditions beyond our control.
Were you a user of the platform? Share your experience or inquiry in the comments, and help us clarify the situation for those who need it.
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