Will cease operations on November 17, 2026, as Universal gradually shuts down the protocol

Odaily News: Universal has officially announced that it will gradually shut down the Universal protocol because user adoption over the past two years has not reached the level needed to sustain the protocol over the long term. The protocol will continue normal operations for the next 60 days, and the existing infrastructure and the underlying asset backing for uAssets will not be affected; during the shutdown period, users can sell uAssets through the Universal app or directly redeem the underlying assets through the minting and redemption interface, and large redemptions can be handled by contacting the team. After November 17, 2026, the protocol will officially close, and remaining uAssets will be redeemed through smart contracts; uSOL, uXRP, uDOGE, uADA, uBTC, and uLTC on Base will each be exchanged for the corresponding bridged assets, while the remaining uAssets will be exchanged for USDC. The final redemption assets and smart contract information will be announced before the shutdown.