TechFlow reports that on June 2, according to an official announcement, the decentralized exchange Pingu Exchange will permanently shut down on July 31, 2026, at 13:00 UTC.
The platform stated that starting at 13:00 UTC on June 3, all markets will switch to “close-only” mode, halting the opening of new positions. After settlement is completed on July 31, the dApp will be taken offline.
Pingu noted that over its 18-month presence on Arbitrum, it achieved nearly $2.4 billion in cumulative trading volume and distributed approximately $650,000 worth of ETH and USDC to stakers. Additionally, 64.46 ETH will be allocated as concentrated liquidity to the PINGU/ETH pool, available for claim by users who purchased and still hold PINGU on Arbitrum in 2024; the claim deadline is also July 31.
