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The Cosmos ecosystem liquid staking protocol Drop has announced the cessation of operations, cancelling token issuance and airdrop.
According to ChainCatcher news and the official announcement, the Cosmos ecosystem liquid staking protocol Drop has announced that it will orderly cease operations, with the protocol launching in 2024. Drop indicates that, given the current direction of ecosystem development and broader market conditions, the protocol has been unable to find a sustainable path for development. Meanwhile, the issuance of DROP tokens will not proceed, and the airdrop related to the Droplets plan will also be canceled. Drop is exploring the possibility of allocating protocol revenue to participants in the Droplets plan as a way to return value to contributors. In terms of asset management, dTIA and deINIT will begin to gradually be phased out, with the withdrawal function remaining open; dATOM and dNTRN will continue to receive support, and Drop is discussing with potential partners the possibility of keeping these two assets operational.