TechFlow News — According to an official announcement, Conic Finance, a DeFi protocol within the Curve ecosystem, has declared it will cease operations. The project team stated that despite collaborating with auditing firms, they failed to develop sufficient fixes for several issues identified in the new version, ultimately leading to a loss of confidence in releasing an audited update. During this period, several core team members have decided to leave the project.
Conic Finance emphasized that the currently deployed protocol is functioning normally with no security-related incidents reported. All Conic Omnipools have been closed and deposit functionality disabled; users will no longer receive CNC token rewards. The team advises all liquidity providers (LPs) to withdraw their funds from the Omnipools as soon as possible.
In addition, the team announced the burning of all unallocated CNC tokens held by the treasury. The CNC locking mechanism has been shut down, and all vote-locked CNC holders (vlCNC) can now withdraw their funds without being bound by previous lock-up periods. The Conic user interface will remain accessible for the next three months; afterward, users will need to interact directly with smart contracts to retrieve any remaining funds.
