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Multi-chain Lending Protocol ZeroLend Announces Gradual Shutdown, Advises Users to Withdraw Funds Promptly
BlockBeats News, February 16th, the cross-chain lending protocol ZeroLend officially announced:
After three years of building and operating the protocol, the team has made a difficult decision: to gradually cease operations. Despite the team's continuous 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 stopped their support, making it increasingly difficult to reliably operate the markets or generate sustainable income. Meanwhile, as the protocol has scaled, it has attracted more attention from malicious actors, including hackers and scammers. Combined with the protocol's thin profit margin and high-risk nature, this has resulted in the protocol being in a long-term loss-making state.
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.
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