Satori Finance, a decentralized perpetual futures exchange that once attracted backing from Polychain Capital and Coinbase Ventures, is calling it quits. The platform announced on June 16 that it will cease operations due to prolonged unfavorable market conditions that left it unable to generate sufficient revenue to keep the lights on.
The wind-down gives users until July 16, 2026 at 23:59 UTC to close positions and withdraw their funds.
From $10M seed round to shutdown in four years
Satori Finance raised $10 million in a seed funding round back in May 2022. The round was led by Polychain Capital, with participation from Coinbase Ventures, Jump Crypto, Blockchange Ventures, and Portal Ventures.
The platform launched its mainnet in 2023 and built up a user base of approximately 600,000 traders. It operated across multiple EVM-compatible chains, including Ethereum and Arbitrum, using a hybrid off-chain aggregation model. Traders could take leveraged positions up to 25x on perpetual futures contracts.
