According to CoinMeta, the hyperliquid ecosystem’s DeFi project hyperwave has announced that it will cease operations on December 16th due to operational costs and regulatory uncertainties. Users need to complete withdrawals before this date; any remaining net assets after closure will be returned to the wallets holding the treasury tokens. Currently, all treasuries only support withdrawals, and gwave can be unpledged at any time. Before closure, the treasury will continue to generate earnings and convert the funds into base assets. During this period, 100% of the income will be used for repurchasing and destroying hwave.