Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: coingabbarmarket on October 06, 2023, 10:57:00 AM
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By The End of December 2023 DeFi Lending Protocol Yield Will Close
DeFi lending protocol Yield Protocol has decided to close at the end of December 2023 due to lack of business demand and global regulatory pressure, which is going to mature on 29 December 2023. Along with this by the end of December 2023 Yield Protocol will not be in existence. By giving the details about Wind Down Operation Yield Protocol has confirmed that March 2024 fixed rate series launch has been cancelled. According to the information, one of the reasons is adverse Crypto rules in USA, Europe and UK, due to which Yield Protocol is closing. After two days of maturity that is till 31 December all the Yield Protocol present series will end.
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DeFi Project Yield Protocol to Wind Down by Year's End
At its peak in April 2022, the DeFi lending project had over $22 million in total value locked, but this figure has since dropped to around $2 million.
Decentralized finance (DeFi) lending project Yield Protocol is set to wind down by the end of this year due to a lack of demand and regulatory challenges.
The project's December 2023 series will mature on Dec. 29, ending all borrowing and lending on the protocol, according to an announcement on Wednesday.
(https://www.coindesk.com/resizer/w7wJqrms-zifhIb5Gc4fY3JUvXc=/1056x594/filters:quality(80):format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/VI7MC5UPGBGXJHXLGZAWTLOTSI.jpg)
More For Yourself Here https://www.coindesk.com/business/2023/10/04/defi-project-yield-protocol-to-wind-down-by-years-end/ (https://www.coindesk.com/business/2023/10/04/defi-project-yield-protocol-to-wind-down-by-years-end/)
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