Universal announced it will gradually shut down its protocol, with plans to cease operations on November 17.

Universal officially announced that due to user adoption failing to reach the level required for long-term protocol sustainability over the past two years, the team has decided to gradually wind down the Universal protocol. The protocol will remain fully operational for the next 60 days, with existing infrastructure and underlying asset support for uAssets unaffected. The wind-down period will last until November 17, 2026. During this period, users can sell uAssets via the Universal app or directly redeem underlying assets through the minting and redemption interface; large redemptions can be processed by contacting the team. After November 17, the protocol will officially shut down, and remaining uAssets will be redeemed via smart contracts. Per current plans, uSOL, uXRP, uDOGE, uADA, uBTC, and uLTC on Base will each be converted to their corresponding bridged assets, while other uAssets will be converted to USDC. Final redemption assets and smart contract details will be announced before the shutdown. Universal noted that over the past two years, the protocol has supported more than 80 assets, facilitated their entry into various blockchain ecosystems, and promoted cross-ecosystem transactions, but ultimately failed to meet expected adoption levels, leading to the decision to cease operations.