BlockBeats News, February 16 — Multi-chain lending protocol ZeroLend officially announced:
After three years of building and operating the protocol, the team has made the difficult decision to gradually cease operations. Despite ongoing efforts, the current form of the protocol is no longer sustainable.
In recent times, several chains supported early on by ZeroLend have become inactive or experienced significant liquidity declines. In some cases, oracle providers have also ceased support, making it increasingly difficult to reliably operate markets or generate sustainable revenue. Meanwhile, as the protocol expanded, it attracted more malicious actors, including hackers and scammers. Coupled with the inherently low profit margins and high risks associated with lending protocols, this has resulted in the protocol operating at a loss for a long period.
The team’s current top priority is to ensure users can safely withdraw their assets. All users are strongly advised to withdraw any remaining funds from the platform as soon as possible.
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