Ducat announces the closure of its protocol and opens treasury asset redemptions.

TechFlow reported that on October 26, Ducat announced that after careful evaluation, the team has decided to gradually shut down the protocol and will demonstrate through a liquidation process that DUCAT is fully backed by the protocol treasury assets.

According to the announcement, vested bonds, vested Pass rewards, staked pDUCAT, pDUCAT in cooldown, and circulating DUCAT in wallets are all eligible for redemption without waiting for the cooldown period. Ducat has completed a snapshot at token holder addresses; users within the snapshot can redeem proportional value from the protocol treasury based on their holdings. DUCAT purchased from liquidity pools after the snapshot will not be eligible for redemption.

Additionally, Pass will continue to receive new emissions, and holders can sell the relevant tokens in the liquidity pool.