MilkyWay Protocol 关闭，MILK 代币价格何去何从？

01 Project Closure: MilkyWay Protocol Announces Gradual Shutdown

On January 15, 2026, a regrettable piece of news emerged from the cryptocurrency industry. Celestia ecosystem’s important liquidity staking and re-staking protocol MilkyWay Protocol issued an official statement announcing it will gradually cease operations and close permanently.

The protocol was once one of the largest LST (liquid staking tokens) and re-staking protocols within the Celestia ecosystem and had successfully launched on Binance Alpha, making it quite prominent at the time.

Its core team admitted in the announcement that the decision to shut down was mainly due to market demand not exploding as expected.

Specifically, DeFi activities within the Celestia ecosystem did not meet expectations, the global re-staking (Restaking) narrative quickly lost popularity, and the protocol’s later attempts at RWA (Real World Assets) and WayCard products were limited by market and funding cycles, preventing the formation of a sustainable business model.

02 Liquidation and Compensation: Key Steps for Holders

With operations halted, MilkyWay Protocol has initiated an official liquidation process. For holders of MILK tokens, stakers, and liquidity providers (LPs), the following key dates and arrangements are crucial:

• Snapshot completed: The protocol took a final snapshot on January 14, 2026, at 10:00 UTC, capturing the holdings of MILK on multiple chains, including stakers, LPs, and exchange addresses.
• Compensation plan: The protocol will convert all accumulated fee income (mainly from its LST fee share of 10%) into USDC and automatically distribute it proportionally to addresses that met the criteria at the time of the snapshot.
• No claim needed: The team emphasized that this distribution will be automatic, and holders do not need to perform any claiming operations, reducing user effort and potential risks.

03 Market Reaction: MILK Token Price Trends on Gate

The project’s end is directly reflected in the market performance of its token MILK. As an asset listed on major exchanges like Gate, its price experienced significant fluctuations around the announcement.

According to the latest data from Gate on January 16, 2026:

• The real-time price of MILK/USDT is approximately 0.003366 USDT.
• In the past 24 hours, the lowest price touched 0.003073 USDT, and the highest reached 0.003973 USDT.
• 24-hour trading volume was about 10.43 million MILK, indicating active market trading under this news.

Looking at its post-listing performance, the price of MILK has fallen far from its initial Gate listing price of $0.2919, with market capitalization severely diminished. This shutdown announcement undoubtedly added further pressure to its already sluggish price trend.

04 In-Depth Analysis: Why Did the Project Reach Its End?

The closure of MilkyWay Protocol was not accidental; it resulted from multiple internal and external factors working together, offering lessons for similar DeFi projects.

• Cooling of narrative hype: The protocol was born amid the dual trends of modular blockchains and re-staking narratives. However, the DeFi development speed within the Celestia ecosystem did not meet early market expectations, and the overall re-staking sector’s enthusiasm quickly waned, leading to a lack of sustainable growth foundation.
• Product iteration and funding pressure: The team specifically mentioned in the announcement that their attempt to break through with the WayCard (cryptographic card) product was launched too late to alleviate the protocol’s funding pressures. In a bear market cycle, innovative products that fail to gain quick market adoption can easily deplete valuable operational funds.
• Competition in DeFi and regulatory environment: The broader DeFi market is highly competitive, and increasing global regulatory uncertainty makes it challenging for small and medium protocols to operate in compliance, securely, and attract users, squeezing their survival space.

05 Lessons for Investors and the Industry

The case of MilkyWay Protocol serves as a wake-up call for cryptocurrency investors, especially those involved in DeFi.

• For holders: The most important thing now is to confirm whether their assets are covered by the official snapshot. Afterwards, they only need to wait for the automatic USDC compensation distribution and beware of scams claiming to help with claims.
• For industry observers: This event once again shows that DeFi projects relying on a single narrative or ecosystem carry high risks. When evaluating projects, investors should pay more attention to their ability to generate actual income, the team’s financial sustainability, and product-market fit, rather than just chasing hot topics.
• Future outlook: Despite project failures, blockchain industry innovation will not stop. Lessons learned will push future builders to focus more on robust economic models, diversified revenue streams, and long-term community development. Every industry cleanup may be a preparation for healthier growth next time.

06 Conclusion: Moving Forward Amid Volatility

As MilkyWay Protocol officially reaches its end, its token MILK’s price on Gate has settled at a few cents, marking a market footnote to this innovative journey.

Its story reminds us that in the fast-evolving crypto world, technological and narrative hype are important, but sustainable business models and resilience are fundamental to weather cycles.

For all participants, while chasing alpha, continuous learning, cautious evaluation, and risk management are the only rules for long-term survival in this vibrant industry.