Satori Finance, a decentralized crypto derivatives exchange backed by Coinbase Ventures, Polychain Capital and Jump Crypto, is shutting down after saying revenue was no longer sufficient to support the business.
The platform announced the decision in a June 16 statement on X, blaming "prolonged unfavorable market conditions" and saying continued operations were "no longer financially viable."
- Data from DefiLlama shows Satori Finance generated more than $134 billion in cumulative perpetual futures trading volume and about $4.46 million in cumulative revenue across multiple networks before announcing its shutdown.
Users have until July 16 to close positions and withdraw assets. The withdrawal window opened on June 16 and will remain available for 30 days.
- But the shutdown leaves unresolved what happens to Satori Finance's old points campaign.
- The exchange introduced a tiered Satori Points Program in 2024 to boost engagement and order-book liquidity.
- In its X post announcing the closure, the team said nothing about separate compensation for points holders or traders.
Satori Finance reassured users that assets remain safe and under user control during the shutdown process, though the exchange warned that the platform will no longer operate after July 16 and users may lose access to remaining funds if they do not withdraw before the deadline.
- Founded in 2021 and launched in 2023, Satori Finance operated a decentralized perps crypto exchange across multiple blockchains, including BNB Chain, Arbitrum, Base, zkSync and Polygon zkEVM.
- The project raised $10 million in seed funding in 2022 from investors including Polychain Capital, Coinbase Ventures, Jump Crypto and Blockchange Ventures.
Updated 8:58 p.m. UTC: This story was updated to add context on Satori's earlier points program and the lack of announced compensation for points holders or traders.