On March 9, Conic Finance—the Omnipools protocol within the Curve ecosystem—officially announced its shutdown. According to the project team, the inability to resolve critical issues in the new version led to the departure of multiple key members. In light of this, the remaining team members conducted a comprehensive assessment and ultimately decided to terminate the project.
Conic Finance emphasized that all liquidity providers (LPs) must withdraw their assets from Omnipools immediately to avoid potential risks. Early withdrawals will allow LPs to proactively safeguard their funds against any instability arising from the platform’s shutdown.
In addition to closing the protocol, Conic Treasury will return the remaining portion of the investment made by Michael Egorov, the founder of Curve, who had contributed to the project since July 2023. Furthermore, the platform announced the termination of all Votium incentive programs for the CNC/ETH liquidity pool on Curve.
The closure of Conic Finance marks a significant event within the Curve ecosystem, raising concerns about the sustainability of DeFi protocols reliant on the Omnipools model.