News linked to both this project and an event.
Ventuals today announced it will gradually shut down its operations and integrate into the Hyperliquid ecosystem team, marking the official conclusion of its 24/7 private market experiments. The platform, which focuses on trading pre-IPO private tech companies, had raised over 500,000 HYPE tokens and achieved a total trading volume of approximately $650 million.The platform's existing HIP-3 markets are now entering the settlement phase. Pre-IPO markets such as OpenAI and Anthropic are settling based on a 24-hour weighted average price, with corresponding prices of $1,341.80 and $1,618.90 respectively. Commodity and index markets including MAG7, semiconductors, and energy will be suspended in batches starting June 18, with open positions being auto-liquidated.vHYPE holders can redeem their staked assets at a 1:1 ratio and claim corresponding rewards. Withdrawal services will be initiated in batches starting June 19, with processing times ranging from 7 to 72 hours. The project has terminated its points and promotional activities and has clearly stated that no tokens will be issued. Officials require all users to complete fund withdrawals and wallet export operations by September 15.
Charlie (@0xBroze), co-founder of the Felix Protocol, announced that Felix’s HIP-3 DEX and all spot markets will begin shutting down on June 19 and complete shutdown by June 20; all traders must close their active positions before then. In its post-mortem analysis, the Felix team noted that competitor TradeXYZ successfully established a growth flywheel and gained market dominance by launching earlier, pricing in USDC (rather than Felix’s USDH), rapidly expanding the number of markets, and leveraging airdrop-driven brand effects. Although Felix launched first in markets such as OIL, GOLD, and SILVER—and recorded approximately $3 billion in trading volume—it was ultimately overtaken by TradeXYZ. Felix emphasized that the DEX shutdown will not affect its lending or spot stock trading businesses, and the team will continue focusing on upgrading and iterating these core products.
According to The Block, the DeFi lending protocol Radiant Capital has announced it will officially cease operations. The protocol suffered a hack in October 2024, losing approximately $51 million; the attacker gained unauthorized access by deploying backdoor contracts on Arbitrum and BNB Chain. Earlier in 2024, the protocol had also been hit by a flash loan attack, resulting in a loss of roughly 1,900 ETH (approximately $4.5 million). After 18 months of recovery efforts, Radiant Capital stated that it has neither recovered a significant portion of the stolen funds nor secured new financing, declaring that “the DAO has no viable path forward.” The protocol will now enter a “maintenance mode”: its frontend and smart contracts remain accessible, allowing users to withdraw funds, repay loans, and manage positions. Any funds recovered in the future will be returned to affected users.
Ranger Finance co-founder cobra stated that Ranger Finance is winding down operations. Some personnel and vendors who collaborated with, built, and supported the project have not received full payment. He explained that during periods of cash shortage, the founders personally injected funds to keep operations running and advanced fundraising efforts within MetaDAO; however, the delayed fundraising led to an accumulation of unpaid bills. After the fundraising was completed, the project only secured approximately two months of runway before the funds were returned. Ranger Finance noted that treasury liquidation exceeded expectations, negatively impacting employees, vendors, and growth budgets. Subsequently, the Drift vulnerability further hampered project progress. Vault users affected by the Drift vulnerability will receive recovered tokens when distributed by the Drift team.
Odaily Odaily News: The Over Foundation announced on X platform that due to financial constraints, it has decided to cease operations of the Over Protocol. All infrastructure and services, including OverWallet, OverNode, OverFlex, RPC endpoints, block explorers, and APIs, have been shut down with no plans for restoration. While the Over Protocol was designed as a decentralized Layer 1 mainnet, it is highly likely to become inoperable in practice following the Foundation's cessation of services. The continued production of blocks will depend on independent validators running open-source client software.
According to Nikita Bier, Head of Product at X, the platform announced two community feature updates: First, it launched a “joinable link” feature for XChat group chats, enabling users to create public links and share them directly on their timelines; each group chat currently supports up to 350 members, with this cap set to increase continuously. Second, due to persistently declining usage, the X Communities feature will be officially discontinued on May 6. X recommends that current community admins pin their group chat links within the next two weeks to facilitate member migration. Nikita Bier stated that these changes are part of X’s broader initiative to streamline the product experience, and that the platform will continue investing in vertical communities through features such as Custom Timelines.
Lattice, a blockchain gaming infrastructure team, announced it will gradually shut down after five years of operation, with its Redstone network officially ceasing operations on May 15, 2026, at 23:59 UTC. Lattice urges users to withdraw their funds from Redstone as soon as possible—especially assets held in smart contracts such as Uniswap—since, after shutdown, the Layer-1 withdrawal contract will only support withdrawals for externally owned accounts (EOAs); funds held within smart contracts cannot be retrieved via this method. Founded in 2021, Lattice focused on building on-chain autonomous virtual worlds and developed several projects during its tenure, including MUD, Redstone, Quarry, and Dozer. The team stated that the DUST project has migrated to DUST Chain and will continue to be supported by 0xPARC. Meanwhile, MUD, Quarry, and Dozer have all been open-sourced, enabling users to freely migrate and utilize them.