🚨 DeFi lending project Yield Protocol is closing at the end of this year due to lack of demand and regulatory challenges. 😢
🔹 The December 2023 series, which will end on December 29, will end all borrowing and lending in the protocol.
🔹 “We had to make this decision because there is currently no sustainable demand for fixed-rate borrowing on the Yield Protocol,” Yield said.
🔹 The increasing regulatory environment and requirements in the USA, Europe and the UK make it difficult for the project to continue.
🔹 At its peak in April 2022, Yield Protocol had a total value of $22 million, but this figure has now dropped to approximately $2 million.
In your opinion, in what direction should regulations for DeFi projects move? We are waiting your comments! 👇
🔹 The December 2023 series, which will end on December 29, will end all borrowing and lending in the protocol.
🔹 “We had to make this decision because there is currently no sustainable demand for fixed-rate borrowing on the Yield Protocol,” Yield said.
🔹 The increasing regulatory environment and requirements in the USA, Europe and the UK make it difficult for the project to continue.
🔹 At its peak in April 2022, Yield Protocol had a total value of $22 million, but this figure has now dropped to approximately $2 million.
In your opinion, in what direction should regulations for DeFi projects move? We are waiting your comments! 👇