The STEP token plummeted 96% amid a hacker attack and lost another 36% after the news of the closure.
Today, we are announcing that Step Finance, SolanaFloor, and Remora Markets are shutting down all operations.
After the hack at the end of January, we explored all possible avenues, including financing and acquisition opportunities.
Unfortunately, we were unable to find a viable solution and have made the difficult decision to immediately cease all operations.
We are working on a buyback for STEP token holders based on a snapshot taken prior to the incident, as well as a redemption process for Remora rToken holders. Remora tokens remain 1:1 backed.
We are deeply grateful to our community for their support over the years and believe this is the best outcome under the circumstances. We want to thank our millions of customers for being with us on this journey.
More details will be published shortly.