Just a couple short weeks after VentureBeat reported, and I discussed, that multiple free-to-play games were on track to make over a billion dollars this year, EA has announced that their competing MOBA, Dawngate, is canceled. The servers will be up for about three more months if you would like to get some last-minute play time in before it goes away. Any money that you spent will not go away, though; EA has committed to full refunds for any transactions that occurred during the beta.
As for employees of the developer, Waystone Games, the open letter thanks them for their dedication, but it does not specifically mention lay-offs or closures. The end of Dawngate could be the beginning of something new, or it could be similar to the recent cancellation of Medal of Honor, where Danger Close was shut down and its employees scattered (many to DICE LA).
Development of Dawngate has ceased, but the game will remain playable until February 2nd, 2015, give or take a few days (depending on how literal they were about "90 days").