🚨 DeFi protocol Yield Protocol announced its closure by the end of the year due to a lack of business demand and global regulatory pressure.
🔹 The closure of the protocol will occur after the completion of the December 2023 series, scheduled for December 29, 2023.
🔹 The launch of the March 2024 series of fixed rates has been cancelled.
🔹 Unfavorable cryptocurrency regulations in the US, Europe and the UK were also one of the reasons for the closure of Yield Protocol.
There have been numerous other protocol-level closures in 2023, including lending platform Geist Finance with a total collateral value (TVL) of $29 million and trading bot Discord None Trading at $16.5 million. In both cases, the main reason for the closure was external attacks.
🔹 The closure of the protocol will occur after the completion of the December 2023 series, scheduled for December 29, 2023.
🔹 The launch of the March 2024 series of fixed rates has been cancelled.
🔹 Unfavorable cryptocurrency regulations in the US, Europe and the UK were also one of the reasons for the closure of Yield Protocol.
There have been numerous other protocol-level closures in 2023, including lending platform Geist Finance with a total collateral value (TVL) of $29 million and trading bot Discord None Trading at $16.5 million. In both cases, the main reason for the closure was external attacks.