Universal Protocol Announces Shutdown Effective November 17

Cross-chain asset protocol Universal has announced it will shut down operations, with the platform remaining active until November 17, 2026. The team cited a lack of sustainable adoption as the reason for the closure. During the transition period, users can redeem their Universal Assets (uAssets) via the application or the mint/redeem interface. After the shutdown date, remaining assets will be redeemable through smart contracts, with most assets converted to USDC, though specific details for the final redemption process will be provided before the deadline.