Another Fantom project winds down citing Multichain exposure By Cointelegraph
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SpiritSwap, a decentralized exchange (DEX) built on smart contract platform Fantom, will wind down operations starting Sept. 1, citing exposure to troubled Chinese cross-chain protocol Multichain.
In the Aug. 9 announcement via Discord, developers revealed that the Multichain hack left SpiritSwap’s entire treasury drained and, therefore, “without the means to finance essential aspects of our operation,” including operational costs, salaries and marketing. The team said it is looking for “a team to take over” the DEX by Sept. 1. If no change of ownership occurs by then, the DEX says it will cease operations entirely.
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SpiritSwap, a decentralized exchange (DEX) built on smart contract platform Fantom, will wind down operations starting Sept. 1, citing exposure to troubled Chinese cross-chain protocol Multichain.
In the Aug. 9 announcement via Discord, developers revealed that the Multichain hack left SpiritSwap’s entire treasury drained and, therefore, “without the means to finance essential aspects of our operation,” including operational costs, salaries and marketing. The team said it is looking for “a team to take over” the DEX by Sept. 1. If no change of ownership occurs by then, the DEX says it will cease operations entirely.
Continue Reading on Coin Telegraph
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