Cascade, a Polychain- and Variant-backed neo-brokerage, shut down operations after five years and $15M in funding; users must withdraw remaining CLS and trading funds.
DeFi & Yields ·
Cascade, a neo-brokerage backed by Polychain and Variant that raised $15M, has ceased operations after five years of development. The platform, which previously operated under the name Perennial, positioned itself around providing 24/7 access to global markets with a unified brokerage experience.
Users holding assets on the platform must act to recover remaining funds. Cascade announced that customers can claim any remaining CLS tokens and trading funds through an official recovery link requiring login via Privy Home, with a separate verification link available to confirm authenticity.
The announcement does not specify the circumstances leading to the shutdown or provide details on asset reserves available for withdrawal. Users have been directed to the fund claim process, but no timeline for claims processing or information about potential shortfalls has been disclosed.