数字Tycoon
06/17 18:30
Satori Finance Shuts Down Amid Prolonged Market Weakness
Satori Finance, a multi-chain DEX backed by Polychain Capital and Coinbase Ventures, announced its closure due to unfavorable market conditions.
The protocol raised $10 million in a seed round in May 2022 and accumulated $134 billion in perpetual contract volume.
Users have until July 16 at 23:59 UTC to withdraw their funds before the platform becomes inoperative.
Satori Finance, a multi-chain decentralized exchange that once counted more than 600,000 registered traders, announced the definitive closure of its operations citing prolonged unfavorable market conditions. The decision makes the protocol the latest in a series of crypto projects that have ceased activities during the current market contraction.
“Unfortunately, due to prolonged unfavorable market conditions, our revenues have not been sufficient to sustain operations, and continuing to run the platform is no longer financially viable,” the Satori team posted on X.
A Heartfelt Farewell from Satori Finance
Dear Satori Finance Users,
After careful consideration, we have made the difficult decision to wind down Satori Finance operations. Our team has poured tremendous effort, passion, and countless hours into building and growing this…
— Satori (@SatoriFinance) June 16, 2026
The Market Anticipated the Closure of Satori Finance
The numbers behind the exit are unambiguous. According to DeFi Llama data, the total value locked in the protocol fell from a peak of $6.7 million in 2024 to just $1.2 million at the time of the announcement. The protocol generated around $3 million annually in fees, a figure insufficient to sustain operations. In the last 30 days prior to the closure, recorded volume stood at $3.2 billion, with an open interest of just $559,000 — numbers that contrast sharply with the $134 billion in accumulated perpetual contract volume the DEX processed throughout its history.
Satori had raised $10 million in a seed round in May 2022 led by Polychain Capital, with participation from Coinbase Ventures, Jump Crypto and other notable investors. The protocol operated with deployments on Polygon zkEVM, Zircuit, BNB Chain, Arbitrum, Scroll and Optimism, among other networks. It offered leverage of up to 25x on various assets and actively participated in the points farming trend that promised token airdrops to attract users.
Absence of Capital and Sector-Wide Crisis
Satori’s closure is far from an isolated case. Projects such as Botanix, the Bitcoin scaling layer, also recently ceased operations. Assets such as ETH and SOL are trading at levels similar to those of the post-pandemic bear market of 2022. Roshan Dharia, CEO of investment firm Echo Base, noted that the abundant capital environment that financed growth in anticipation of future monetization “is becoming more selective.” The question is no longer whether a protocol can attract users, but whether it can capture economic value in a sustained manner.
Satori users have until July 16 to withdraw their funds. Some have already reported difficulties doing so on networks other than Ethereum.
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