PINGU to Permanently Shut Down by July 2026 Due to Financial Constraints

Decentralized derivatives exchange PINGU has announced its permanent closure on July 31, 2026. According to Foresight News, the decision comes after operating on Arbitrum for 18 months and launching on the Monad mainnet, with insufficient financial reserves and the operational team ceasing salary collection since February. Starting from 21:00 (UTC+8) on June 3, the platform will only allow position reductions and will not open new positions. The final settlement will be completed by July 31, after which the dApp will be officially taken offline. Before the closure, PINGU will inject 64.46 ETH into the PINGU/ETH liquidity pool as centralized liquidity. This will allow users who purchased and held PINGU tokens on Arbitrum in 2024 to exit at a unified price, with the window closing on July 31. The team has also apologized for being unable to fulfill the Monad points activity commitments.