PANews reported on November 11, 2026, that Hyperwave plans to wind down because operating costs and regulatory uncertainty have made continued operation unviable. Protocol operations are scheduled to end on December 16.
All Hyperwave vaults now allow withdrawals only, including GWAVE, which can be unstaked at any time. Hyperwave said withdrawing before December 16 is the fastest way for users to recover their funds. After that date, any remaining net value will be returned to wallets holding vault tokens. The vaults will continue to earn yield while funds are converted into underlying assets to support withdrawals.
Before the shutdown, Hyperwave said it will use 100% of vault revenue to buy back and burn HWAVE. That describes a use of revenue, not a promised return to token holders.
Hyperwave also warned users about phishing links and directed questions to its support channels on Discord or in the app.
Original report: PANews, published November 11, 2026, at 18:49 (UTC+8).