What to know:
- Odos Protocol will shut down its operating entity, with users required to withdraw all funds before the July 30 deadline.
- The team confirmed Odos DAO will continue operating independently, while the ODOS token will remain onchain despite the company’s closure.
- The shutdown follows a broader trend of crypto platform closures, with BitMEX also recently announcing plans to wind down operations after 11 years.
Odos Protocol announced that it will be closing down its operational entity and has asked users to withdraw their funds by July 30th. The Odos Protocol team announced the shutdown in a post on X on Thursday but didn’t reveal the reasons for the same. This comes at the end of a period when there was no activity on the DEX aggregating platform.
Odos Protocol Asks Users to Withdraw Funds Before July 30
The following was stated in the official announcement: users have to withdraw their funds related to Odos Protocol before the deadline of July 30. The team advised users to carry out this procedure to prevent any complications after the completion of the operation period.
Additionally, it was highlighted that Odos DAO operates separately from the operating company, which will be closed. The DAO will operate separately and is expected to announce its plans for the future soon. At the same time, the ODOS token will stay onchain regardless of the closure of the operating company.
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Odos Protocol Volume Fell Sharply From 2024 Peak
This is happening because of the considerable reduction in the activity of the platform within the past two years. For instance, the DEX aggregator had an estimated trading volume of $7.8 billion per month in December 2024; however, this number fell to only $169 million per month in July 2026.
Moreover, data provided by DefiLlama indicates that at present, the protocol brings $2.72 million per year in revenue.
The shutdown of Odos Protocol is another addition to the increasing number of cryptocurrency firms and DeFi initiatives that have closed down or stated plans for closure in the past few months.
Simultaneously, the crypto derivatives trading platform BitMEX announced plans to shut down following 11 years of operation. Now that Odos Protocol has also become a part of that list, users are advised to withdraw their funds ahead of the July 30 deadline.
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