Polygon (Old)

<h2 id="satori-finance-confirms-wind-down">Satori Finance Confirms Wind-Down</h2>
<p><a href="https://x.com/SatoriFinance" rel="noopener noreferrer nofollow">@SatoriFinance</a>, a decentralized perpetuals exchange, is shutting down. The platform confirmed the decision on June 16, 2026, telling users it had reached the conclusion after careful consideration. <cite>The team cited prolonged unfavorable market conditions, with revenue falling short of what was needed to sustain operations.</cite></p>
<p><cite>Satori raised $10 million in a seed round in May 2022, with participation from Polychain Capital, Coinbase Ventures, and Jump Crypto.</cite><cite>The project was led by co-founders Rahim Noorani, previously at Goldman Sachs and Scale Ventures, and George Wu, previously at Optiver.</cite><cite>Satori was built around an off-chain aggregation and on-chain settlement design, combining the security and transparency of a decentralized exchange with the speed and usability of a centralized exchange.</cite></p>
<h2 id="what-users-need-to-do-now">What Users Need to Do Now</h2>
<p><cite>A withdrawal and position-closing window runs from June 16, 2026, 23:59 UTC to July 16, 2026, 23:59 UTC. Once the window closes, the platform will no longer be operational, and assets remaining on the platform may no longer be accessible.</cite><cite>The team has reassured users that assets remain fully safe and under user control throughout the transition period.</cite></p>
<p>The closure underscores the difficult economics facing mid-tier DeFi protocols. Despite clearing over $125 billion in lifetime trading volume, Satori's total value locked had dwindled to around $1.2 million by the time of the announcement. Blue-chip venture backing offered no immunity. <cite>Satori had expanded to support ZK-Rollup perpetuals across Polygon zkEVM, zkSync Era, Scroll, Linea, Base, Arbitrum, and X Layer,</cite> yet revenue remained too thin to justify continued operations.</p>
<p>The wind-down is a reminder that trading volume alone does not guarantee protocol sustainability, particularly when fee compression and low TVL erode the margins needed to keep infrastructure running.</p>
<p><b>Sources:</b><br><a href="https://www.coingecko.com/learn/what-is-satori-finance-earn-points" rel="noopener noreferrer nofollow">CoinGecko: What Is Satori Finance</a><br><a href="https://medium.com/satorifinance/satori-raises-10m-led-by-polychain-and-blockchange-bringing-decentralized-derivatives-to-2f29abf620ab" rel="noopener noreferrer nofollow">Satori Finance: $10M Seed Round Announcement (Medium)</a><br><a href="https://defillama.com/protocol/satori-perp" rel="noopener noreferrer nofollow">DefiLlama: Satori Perp Protocol Data</a></p>

A Polychain and Coinbase-backed perp DEX is shutting down

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