1 year ago
Decentralized concern (DeFi) lending task Yield Protocol is acceptable to upwind down by the extremity of this twelvemonth owed to a deficiency of request and regulatory challenges.
The project's December 2023 bid volition mature connected Dec. 29, ending each borrowing and lending connected the protocol, according to an announcement connected Wednesday.
"We felt this determination was indispensable due to the fact that determination is presently not sustainable request for fixed-rate borrowing connected Yield Protocol," Yield said. "Additionally, the existent regulatory situation successful the U.S., combined with expanding regulatory requirements successful Europe and the U.K., marque it challenging for america to proceed to enactment the Yield Protocol."
At its highest successful April 2022, Yield Protocol had over $22 cardinal successful full worth locked, but this fig has since dwindled to astir $2 million.
Edited by Sandali Handagama.
English (US) 