Zapper DeFi Dashboard Shuts Down After 7 Years, CEO Announces Wind Down

Zapper, a popular DeFi dashboard and portfolio tracker, announced its shutdown on Wednesday after nearly 7 years of operation. CEO and co-founder Seb Audet stated the company evaluated multiple options and determined an orderly wind down is the best course of action. The closure adds to a wave of shutdowns across the crypto industry, including projects like Nifty Gateway, Bitcoin Layer 2 Botanix, and Cosmos wallet Leap, many citing market conditions and lack of traction.

Zapper Services to Sunset on Aug. 3

The project's main zapper(.)xyz website, mobile apps, and API services will be completely sunsetted on Aug. 3, according to the announcement. Audet thanked users, investors, advisors, employees, and community members in his X post, stating: "Zapper's mission was to make DeFi more accessible, and while we did not realize that mission the way we originally hoped, I do believe we helped make the onchain economy significantly easier to use for a considerable number of people."

Zapper Scaled to 2 Million Monthly Active Users Since 2019 Launch

Zapper was founded in 2019 as a DeFi portfolio tracker that enabled users to monitor positions across liquidity pools and yield farms and track claimable rewards. The platform offered a Zap feature for deploying complex DeFi strategies and later added DEX aggregation, NFT support, and web3 social tools including a Farcaster client. According to Audet, Zapper scaled to 2 million monthly active users and over $13 billion in processed transactions at peak volume.

Zapper Raised $16.5 Million Across Two Funding Rounds

Zapper raised a $1.5 million seed round in early 2020 after winning Kyber's DeFi Hackathon in late 2019. The company also raised a $15 million Series A in May 2021 led by Framework Ventures, with notable participants including Mark Cuban and Ashton Kutcher's Sound Ventures.

FAQ

What did Zapper announce on Wednesday? Zapper CEO and co-founder Seb Audet announced the DeFi dashboard and portfolio tracker is shutting down after nearly 7 years of operation, with services sunsetting on Aug. 3.

Why is Zapper shutting down? According to Audet, the company evaluated multiple options and pursued some to the fullest extent possible, concluding that an orderly wind down is the best course of action. The closure is part of a broader wave of shutdowns across the crypto industry.

How many users did Zapper have at its peak? Zapper scaled to 2 million monthly active users and processed over $13 billion in transactions at peak volume, according to CEO Seb Audet.