Echo Protocol to Shut Down After About Two Years, Halt New Deposits, Loans and Staking
JH Kim
Summary
- Echo Protocol said it had announced plans to shut down after about two years of operation.
- New deposits, loans and staking services will be halted, while existing users will continue to receive support for asset withdrawals and loan repayments.
- No shutdown schedule or end date for withdrawal support was provided.
Forecast Trend Report by Period
Echo Protocol announced that it will shut down after about two years of operation. The platform will halt new deposits, loans and staking services, while continuing to support withdrawals and loan repayments for existing users.
Cointelegraph reported on Oct. 19 that Echo Protocol unveiled the shutdown plan that day and said it would stop accepting new funds and discontinue related services.
As a result, users will no longer be able to make new deposits or use lending and staking services.
Withdrawals and loan repayments for existing users will remain available. The protocol did not provide a detailed shutdown schedule or say when support for withdrawals would end.
JH Kim
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