ZeroLend, a decentralized finance (DeFi) lending protocol, has officially announced the cessation of its operations, stating that the project is “no longer sustainable.” In a communication to its community, the development team revealed that despite efforts to maintain the platform, current market conditions and operational overhead have rendered continued development unviable. The protocol has immediately disabled new deposits and is advising all current liquidity providers and borrowers to withdraw their assets and settle outstanding positions as soon as possible to avoid potential issues during the wind-down process. This shutdown highlights the increasing difficulty for smaller DeFi protocols to maintain growth and security in a highly competitive and volatile crypto landscape. The team thanked its users for their support while emphasizing that the closure was a necessary step for an orderly exit.
Source: Crypto protocol ZeroLend shuts down, saying it’s ‘no longer sustainable’
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