Foresight News reports that the decentralized lending protocol Zerolend announced that after three years of operation, it has decided to cease all protocol operations. Despite ongoing efforts by the team, the protocol is no longer sustainable in its current form. Several chains that previously supported ZeroLend have become inactive or experienced significant liquidity declines, and some oracle providers have also ceased support, making reliable market operation and sustainable revenue increasingly difficult. Additionally, as the protocol grew, malicious actors such as hackers and scammers gained more attention. Coupled with the protocol’s slim profit margins and high-risk nature, this has led to prolonged periods of loss.
The official statement indicates that most markets currently have a loan-to-value (LTV) set to 0%, and users are strongly advised to withdraw any remaining funds on the platform. For assets on chains with severe liquidity deterioration, such as Manta, Zircuit, and XLayer, some funds remain locked in contracts associated with poor liquidity or inactivity. ZeroLend is actively seeking solutions to return these funds to users. To this end, ZeroLend will implement a scheduled upgrade with a lock period to reallocate affected assets, involving updates to the protocol’s smart contracts aimed at maximizing the recovery of user funds.
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