Universal Is Shutting Down: Holders of uSOL, uXRP and Other uAssets Have Until November 17
- —Universal announced the wind-down on September 18 and stays operational for 60 days, through November 17
- —Six uAssets on Base will redeem into cbSOL, cbXRP, cbDOGE, cbADA, cbBTC and cbLTC
- —The remaining ~80 uAssets will be forcibly converted into USDC after the deadline
- —uXRP has a market cap of about $2.95 million on roughly $279,000 in daily turnover
Why it matters: uAsset holders must act before November 17: after the deadline the conversion to USDC happens automatically and without their input.
Source: CryptoTicker