Vaults Now Support Withdrawals Only, Hyperwave to Cease Operations on December 16

Odaily reports: Hyperwave has announced it will shut down its protocol, citing operating costs and regulatory uncertainty as reasons it can no longer continue operations. The protocol will cease operations on December 16. Currently, all vaults support withdrawals only, and GWAVE can be unstaked at any time. Withdrawing before operations cease is the fastest way for users to recover their funds; afterward, the remaining net asset value will be returned to the wallets holding the vault tokens. Before the shutdown, the vaults will continue to generate yield and convert funds into underlying assets to support withdrawals, with 100% of revenue used to buy back and burn HWAVE.