🥭 #Mango Markets — a DEX on #Solana — has announced it is shutting down after years of litigation, a coordinated attack, and internal DAO disputes.
The decision follows a settlement with the U.S. Securities and Exchange Commission and a $700,000 civil penalty.
“I believe all active participants have now expressed a desire to stop working on Mango in general or specifically Mango v4 & Boost,” protocol co-founder Maximilian Schneider wrote in a Discord channel on January 3, calling for an “elegant” wind-down.
The community then held a vote on whether to shut down the decentralized exchange, which was passed almost unanimously. It will go into effect on January 13.