Satori Finance Shuts Down, Users Have Until July 16 to Withdraw

Satori Finance is shutting down its decentralized exchange. The team said revenue no longer supports the business, even after processing more than $134 billion in cumulative perpetual futures volume since launch.

The protocol announced the closure in a June 16 statement. Withdrawals will remain open until July 16, 2026, at 23:59 UTC. Users must close all open positions and move assets off the platform before that deadline. After that, Satori said the platform will stop operating and users may lose access to any remaining assets.

“We have made the difficult decision to wind down Satori Finance operations,” the team wrote. They added that user assets remain under users’ control throughout the shutdown. “We want to reassure you that your assets remain fully safe and under your control throughout this transition period. There is no need for concern – this notice is simply to help you plan ahead and ensure a smooth, orderly withdrawal process.”

Some users on X reported trouble withdrawing assets from networks other than Ethereum after the announcement. Satori has not publicly addressed those individual claims. The protocol once claimed to serve more than 600,000 traders across multiple blockchains, offering leveraged perpetuals with up to 25x leverage. It expanded to Polygon zkEVM, Zircuit, BNB Chain, Arbitrum, Scroll and Optimism.

Satori’s activity had slowed sharply in recent months. DeFiLlama data shows it held about $1.2 million in total value locked, down from $6.7 million during 2024. The protocol generated roughly $3 million in annualized fees before the shutdown, according to DeFiLlama. Trading volume over the last 30 days was about $3.2 billion, with $559,000 in open interest.

The project gained traction during the points farming era, when many crypto protocols offered points ahead of potential token airdrops. Satori secured $10 million in seed funding in May 2022 from investors led by Polychain Capital. Coinbase Ventures and Jump Crypto also participated.

The shutdown adds to a growing list of crypto companies that have ceased operations this year. Earlier this month, Bitcoin scaling project Botanix said it would discontinue its network after concluding that demand was not strong enough to sustain long-term operations. Crypto payments platform Pyra also announced plans to close after months of trying to recover from losses tied to the Drift exploit.

Satori ended its announcement by thanking users. “Whether you joined us early on or discovered us along the way, your trust meant everything to our team. While we wish circumstances allowed us to continue this journey together, we are grateful for every moment of it.”

The July 16 deadline means users on networks other than Ethereum may face additional friction moving assets. Satori has not addressed those reports publicly.