After two years building Universal, we've made the difficult decision to wind down the Universal protocol.
We started Universal with a simple idea: assets should exist across different chains. We built Universal Assets, or uAssets, to bring assets like SOL, XRP, DOGE and dozens more to new ecosystems, backed 1:1 by their underlying assets.
Over the last two years, Universal grew to support more than 80 assets and facilitated trading across the ecosystems we served.
But ultimately, adoption didn't reach the scale required to make the protocol sustainable long-term. After a lot of consideration, we've decided that winding down is the right decision.
What happens next
The Universal protocol will remain operational, business-as-usual, for the next 60 days, through November 17.
During this period, uAssets will continue to be backed by their underlying assets as normal and existing infrastructure will remain operational.
For most users looking to unwind their positions before November 17, the simplest way to exit a position is to sell uAssets through the Universal app. We will maintain relayer liquidity as usual throughout the wind-down period.
Direct redemptions will also remain available through the mint and redeem interface for users looking to redeem for the underlying asset.
For larger redemptions, please contact [email protected] so our team can help coordinate and process your redemption. Due to increased redemption activity during the wind-down period, for security reasons, direct redemptions may take longer than usual to process.
After November 17, the Universal protocol will be wound down and remaining uAssets will become redeemable through a smart contract. The asset received will depend on the uAsset held, as described below.
Timeline
September 18, 2026
Wind-down announced. The Universal protocol remains operational, business-as-usual.
September 18 through November 17, 2026
The Universal protocol will continue operating during the 60-day wind-down period.
uAssets will continue to be backed by their underlying assets as normal and existing infrastructure will remain operational.
For users looking to unwind their positions, the simplest way to exit is to sell through the Universal app. We will maintain relayer liquidity as usual throughout the wind-down period.
Direct redemptions for the underlying asset will also remain available through the mint and redeem interface.
For larger redemptions, please contact [email protected] so our team can help coordinate and process your redemption.
Due to increased redemption activity during the wind-down period, for security reasons, direct redemptions may take longer than usual to process.
November 17, 2026
The Universal protocol will be wound down. Any remaining uAssets will become redeemable through a smart contract.
For the following six uAssets held on Base, holders will be able to redeem for the corresponding bridged asset:
| uAsset on Base | Redeemable for |
|---|---|
| uSOL | SOL on Base |
| uXRP | cbXRP |
| uDOGE | cbDOGE |
| uADA | cbADA |
| uBTC | cbBTC |
| uLTC | cbLTC |
| All other uAssets | USDC |
*The redemption assets above reflect our current plans and are subject to change as the wind-down progresses. We will publish the final redemption assets, smart contract information, and detailed instructions before November 17.
Frequently asked questions
How should I exit my uAsset position?
For most users looking to unwind their positions, the simplest option is to sell uAssets through the Universal app. We will maintain relayer liquidity as usual throughout the wind-down period.
Direct redemption will also remain available through the mint and redeem interface for users looking to redeem for the underlying asset.
For larger redemptions, please contact [email protected] so our team can help coordinate and process your redemption.
Are uAssets still backed?
Yes.
uAssets will continue to be backed by their underlying assets as normal throughout the 60-day wind-down period.
Can I still sell uAssets?
Yes.
We will maintain relayer liquidity through the Universal app as usual throughout the wind-down period to support users selling their uAssets.
Can I still redeem uAssets?
Yes.
Existing redemption infrastructure will remain operational throughout the 60-day wind-down period. Direct redemptions can be submitted through the mint and redeem interface for users looking to redeem for the underlying asset.
Due to increased redemption activity during the wind-down period, for security reasons, direct redemptions may take longer than usual to process.
For larger redemptions, please contact [email protected] so our team can help coordinate the process.
What happens if I still hold uAssets after November 17?
After November 17, the Universal protocol will be wound down and remaining uAssets will become redeemable through a smart contract.
For the six uAssets on Base listed in the timeline above, holders will be able to redeem for the corresponding bridged asset. All other uAssets will be redeemable for USDC.
The expected redemption assets are subject to change as the wind-down progresses. We will publish the final redemption assets, relevant smart contract information, and detailed redemption instructions before November 17.
Why is Universal winding down?
We built Universal around the idea that assets should exist across different chains.
While Universal found meaningful usage and grew to support more than 80 assets, adoption ultimately didn't reach the scale required to make the protocol sustainable long-term.
After a lot of consideration, we decided that an orderly wind-down is the right decision.
Thank you
We're incredibly grateful to everyone who believed in Universal: our users, liquidity providers, chains, investors and partners.
Building Universal gave us the opportunity to work with some of the best teams in crypto and to help promote more asset diversity across chains.
Universal didn't reach the scale we set out to achieve, but we're proud of what we built and grateful to everyone who was part of it.
Our focus now is making the wind-down as smooth as possible for everyone involved.
If you have questions, have a large position, or need assistance during the wind-down, please contact [email protected].
We'll keep our resources available throughout the process and communicate any important updates along the way.
Thank you for trusting us.
Last updated: September 18, 2026
