Cowri Labs, the company building Shell, no longer has the resources to continue development of the core Shell Protocol and the Shell dApp. This announcement comes with a heavy heart.
What does Cowri Labs ending its engagement mean for Shell?
Shell Protocol itself is fully autonomous. It will keep running for as long as the underlying chains keep operating. User tokens in Shell v1, v2, v3 and the STIP pools will remain there until the user withdraws them. Cowri Labs (and the Shell DAO) do not have any control over user tokens.
However, the Shell Dapp will not keep running forever. Cowri Labs will continue to maintain the dapp until at least November 30, 2024. After that point, the dapp may no longer be accessible. User tokens will not be directly affected by the shutdown of the dapp; however, it may be difficult for non-experts to access the underlying smart contracts without the Shell Dapp. Therefore, it is recommended that users withdraw their tokens before November 30.
If you are unsure how to withdraw your tokens, please refer to these references:
- Shell v1
- Shell v2
- STIP Pools
The final deliverable from Cowri Labs will be to distribute SHELL rewards for DAO stakers and LPs, as agreed upon in the Shell DAO votes. The final snapshot was taken on September 22. Rewards are being calculated this week and will be distributed next week and will be claimable via the Shell Dapp.
The Snapshot portal for the Shell DAO will continue to operate as will the Shell Forum. The Shell Wiki will be available until at least November 30.
For the past five years, I thought about Shell when I went to sleep, and was still thinking about Shell when I woke up. A lot of sacrifices have been made and although I’m saddened by the outcome, it has been an incredible journey.
Thank you to everyone who has supported Cowri and Shell along the way.
Aloha,
Kenny and the Cowri Labs Team
Join the Shell community!
Twitter: https://twitter.com/ShellProtocol
Discord: https://discord.com/invite/shell-protocol
Telegram: https://t.me/shellprotocol
GitHub: https://github.com/shell-protocol