Strobe is Winding Down After careful consideration, we have made the difficult decision to wind down Strobe Finance. This post explains what is happening, what you need to do to retrieve your funds, and why we have reached this point. We want to be clear and direct from the outset: your funds are safe. The most important part of this announcement is not the explanation, it is the action. Please read the timeline below and withdraw your funds. What you need to do 1⃣If you have anything deposited or borrowed at Strobe, please act now rather than later. 2⃣All new deposits and borrowing are disabled as of today. 3⃣If you have deposited funds, withdraw them as soon as possible. 4⃣If you have an open borrow position, repay your loan first to release and keep your collateral, then withdraw. 5⃣The simplest and safest path is to be fully out before 13 July. Timeline 📆Today — Deposits and borrowing are disabled. Please begin repaying and withdrawing. 📆13 July — We will begin to liquidate any unpaid borrowing on this date. This is a protective measure: it ensures no one becomes trapped if liquidity runs low as others exit. If you have borrowed, repay before this date so your collateral is released to you rather than sold to cover the debt. 📆13–20 July — The app at app.strobe.finance will remain open for withdrawals only, giving everyone time to exit in an orderly way. All social channels will be closed, X will remain to provide instructions for contract withdrawal only. 📆20 July — The front end closes permanently. After this date, funds can only be withdrawn directly from the smart contracts. We will publish a step-by-step guide to walk you through this, but withdrawing before 20 July through the app is far simpler. To put it plainly: out before 13 July is best; out before 20 July is essential. A note for borrowers We want to be especially clear here, because this is the part that matters most if you have an open loan. On 13 July, any position still open will be liquidated. Liquidation means your collateral is sold to repay what you owe. To avoid this and keep your collateral, repay your borrow position first, then withdraw your deposit. Please do not wait for the deadline. The liquidation step exists to protect lenders. As funds leave the protocol, available liquidity falls. By closing out remaining positions on a known date, we make sure no one is left unable to exit because the liquidity to do so is gone. Standard liquidations fees will apply, therefore it is in your best interest to complete the transaction yourself. A note for lenders You may need to be patient and wait for the borrowers, or the liquidations, to free your capital before you can withdraw. Why we are closing Strobe launched with the initial funding needed to reach mainnet. Beyond that point, however, we were unable to secure the follow-on support — through grants, angel investors, or venture capital — required to sustain the protocol's operations over the long term. We pursued these routes in earnest, and they did not come through. As total value locked declined, the modest fees the protocol earns no longer covered our monthly running costs. That gap has been widened by the broader market environment, with XRP trading more than 60% below where it sat at our launch. The XRPL EVM Sidechain, which was central to what we set out to build, is also no longer a primary focus within the wider Ripple ecosystem. A core part of our original proposition rested on that foundation continuing to be a priority. Throughout all of this, our team has contributed hundreds of hours, unpaid, to keep Strobe running. We have done so gladly, but it is no longer sustainable, and we have reached the honest limit of what goodwill alone can carry. Thank you To everyone who deposited, built alongside us, tested, gave feedback, and believed in the idea of native DeFi on the XRP Ledger — thank you. We are proud of what we shipped. We brought a working, audited, non-custodial money market to a chain that had never had one, and we did it with a small team and limited resources. We are genuinely sorry it could not continue. Please withdraw your funds before 13 July. We will keep the community updated, publishing the direct-withdrawal guide ahead of 20 July closure Team Strobe.