Cross-chain protocol Universal Protocol is shutting down
- —The protocol will continue operating for 60 days — until November 17, 2026
- —It supported more than 80 assets through Universal Assets (uAssets)
- —It raised $9 million from a16z Crypto and Coinbase Ventures
- —The reason for closure is insufficient usage scale
Why it matters: Another venture-backed cross-chain project shutting down signals sector consolidation and weak demand for the uAssets model.
Source: ChainCatcher 链捕手