Shared masternode hosting service, Snode, has announced that it will cease all operations by the end of this year. The team made the revelation to users in an email, stating that its hosting platform will cease to function after November 30. In the same vein, its trustless platform and the Snode wallet will close on December 7. Users have been advised to withdraw their funds from the wallet before December 7.

An excerpt from the email reads:

Our last functioning day at for hosting platform will be 30th, November 2019. After this day, we will be processing refunds for running shared/dedicated masternodes. Trustless platform will stop on 7th, December 2019.

Although the team has announced that it will be shutting down its service, room has been given for negotiations and possible acquisition of the service. They hinted that they are already having a few ongoing discussions but are still open to individuals who are interested in the platform.

There are speculations by some users on Snode’s official Telegram channel that the momentum of the project was killed by a number of factors including CryptoBridge’s introduction of KYC, a lack of volume, and the general cryptocurrency bear market.