Decentralized finance (DeFi) project Yield Protocol has announced it will shut down by the end of this year due to lack of demand and regulatory issues.
- On December 29, the last series of the project will end, after which all operations with loans and credits will cease.
- Yield Protocol made this decision due to the lack of sustainable demand for fixed rate lending.
- The regulatory environment in the US, Europe and the UK is also putting pressure on the project.
- In April 2022, the total amount of funds locked in Yield Protocol was over $22 million, but has since dropped to approximately $2 million.
- On December 29, the last series of the project will end, after which all operations with loans and credits will cease.
- Yield Protocol made this decision due to the lack of sustainable demand for fixed rate lending.
- The regulatory environment in the US, Europe and the UK is also putting pressure on the project.
- In April 2022, the total amount of funds locked in Yield Protocol was over $22 million, but has since dropped to approximately $2 million.