Universal Protocol, a cross-chain asset protocol that raised $9 million from a16z Crypto and other investors, is gradually shutting down after insufficient user adoption over the past two years. The protocol will continue operating normally for 60 days until Nov. 17, 2026, while its existing infrastructure and support for the underlying assets of Universal Assets, or uAssets, remain unaffected. Users can redeem their holdings by selling uAssets through the Universal app or using the mint and redeem interface, with large redemptions coordinated directly with the team. After the deadline, smart contracts will automatically redeem remaining uAssets: uSOL, uXRP, uDOGE, uADA, uBTC and uLTC on Base will convert to bridged assets, while all other uAssets will convert to USDC. Universal said it will publish final redemption details and relevant smart-contract information before closure.