Zapper to Shut Down After Seven Years as DeFi Platform Winds Down Operations
The popular DeFi dashboard and portfolio tracker Zapper will officially shut down after nearly seven years of operation. CEO and co-founder Seb Audet announced that the platform will begin an orderly wind-down, with all services ending on August 3. The shutdown will include the Zapper website, mobile applications, and API services.
CEO Says Wind-Down Was the Best Option
In a public statement, Audet said the team explored several alternatives before deciding to close the platform. After reviewing every possible path, the company concluded that a structured shutdown was the best course of action. He thanked users, employees, investors, advisors, and community members for supporting Zapper throughout its journey.
Zapper Helped Simplify DeFi Investing
Founded in 2019, Zapper started as a DeFi portfolio tracker that allowed users to monitor assets across liquidity pools, yield farms, and decentralized finance protocols. Over time, the platform expanded its features by adding one-click Zap transactions, DEX aggregation, NFT support, and Web3 social tools. At its peak, Zapper served 2 million monthly active users and processed more than $13 billion in transactions.
Crypto Market Challenges Continue
Zapper’s closure comes as several established crypto projects have shut down due to difficult market conditions and slower user growth. In recent months, platforms including Nifty Gateway, Botanix, and Leap Wallet have also ended operations. The trend highlights the ongoing challenges facing many blockchain and Web3 companies despite previous success.
Strong Funding Could Not Prevent Shutdown
During its growth, Zapper secured significant investor support. The company raised a $1.5 million seed round in 2020 after winning Kyber’s DeFi Hackathon. It later closed a $15 million Series A funding round in 2021, led by Framework Ventures, with participation from investors including Mark Cuban and Sound Ventures. Despite strong backing and years of development, the company has now decided to end operations, marking the close of one of the early platforms that helped make decentralized finance more accessible.
