Omnity Network Announces Cessation of Operations for Its Bitcoin DeFi Platform
According to an official announcement reported by BlockBeats on September 28, Omnity Network said it will gradually end project operations because its operational funds have been exhausted. The network stated that its Bitcoin DeFi products, RichSwap and Satsman, will stop operating within 30 days.
Why the shutdown was announced
The decision comes after Omnity Network ran out of operating funds. The team did not describe a new token, price, or replacement service in the announcement. Its stated priority is to allow users to exit locked positions before the products are taken offline.
What users must do within 30 days
Omnity asked RichSwap liquidity providers to remove their liquidity as soon as possible. The team said it will upgrade the smart contracts to lift existing lock restrictions and support unrestricted withdrawals. A detailed timeline and a guide for liquidity removal will be published soon. The company will keep support channels open for 30 days to help users complete the process.
What happens after the closure
The shutdown will end the project’s operations, but core team members said they will continue to support the Bitcoin ecosystem. They plan to do so through personal efforts and developer collaboration organizations, according to the announcement.
Risk Warning
This article is only an informational compilation and does not constitute investment advice, legal advice, or a recommendation to buy, sell, or hold any crypto asset. Digital asset prices can be highly volatile, and project shutdowns, liquidity changes, smart-contract upgrades, and operational risks may lead to significant losses. Readers should verify official announcements, understand withdrawal deadlines, and assess their own risk tolerance before taking action. Always conduct independent research and make decisions rationally.
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