One other Solana DeFi Lender Sends Customers Packing with Their Funds
- EverlendFinance has requested customers to take their funds elsewhere because it shuts down.
- The protocol managed $400,000 on the peak of its operation.
- Final month, two NFTs introduced their departure to different rival chains.
In a seven-part tweet yesterday, Everlend Finance, a Solana-based DeFi lending protocol, introduced that it was shutting down its app platform, asking customers to take their funds elsewhere.
Everlend Finance stated it resolved to close down after making an attempt to discover different optimistic choices up to now months to no avail, given the absence of liquidity. The undertaking famous its closure has nothing to do with the Solana blockchain itself and that it has sufficient assets to stay afloat. Nevertheless, it has determined to halt, as urgent forwards with its present situation could be equal to playing.
3/ Sadly, rn liquidity is simply not there and that is so not nearly Solana and the B/L market (on which Everlend is 100% dependent) retains shrinking. In these situations urgent ahead is a bet. And though we had sufficient runway, we determined to cease now.
— Everlend (@EverlendFinance)
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