BlockBeats News, February 16th, the multichain 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 the team’s continued efforts, the current state of the protocol is no longer sustainable.
Over the past period, several chains early supported by ZeroLend have become inactive or experienced a significant decrease in liquidity. In some cases, oracle providers have also ceased support, making it increasingly difficult to reliably operate the markets or generate sustainable revenue. Meanwhile, as the protocol has grown in scale, it has attracted more attention from malicious actors, including hackers and scammers. Combined with the lending protocol’s thin profit margin and high-risk nature, this has resulted in the protocol being in a long-term state of deficit.
The team’s current top priority is to ensure that users can safely withdraw their assets. It is highly recommended that all users withdraw any remaining funds from the platform as soon as possible.
