Omnity Winds Down Bitcoin DeFi Products Amid Operating Funds Shortage

Omnity Network is set to close its Bitcoin DeFi products, RichSwap and Satsman, within the next 30 days. The decision comes after the project has exhausted its operating funds.

The announcement urges liquidity providers to withdraw their funds as soon as possible. RichSwap's smart contracts will be upgraded, and existing lockup restrictions will be removed, allowing users to withdraw funds without limits.

A detailed schedule and guide for withdrawing liquidity will be released soon. Support channels will remain open throughout the 30-day transition period to help users complete the process.

The core team members plan to continue supporting the Bitcoin ecosystem through individual efforts and developer collaboration organizations, despite the project's wind-down.