Solana-Based Lending Protocol Everlend Finance Shuts Down Its App Platform

Solana-based DeFi lending protocol Everlend Finance has shut down its app platform citing the current liquidity crunch in the market.

The app is now in withdrawal-only mode and will run until the funds are fully withdrawn. In addition, the Everlend team says it will open-source its codebase so others can continue to build solutions using its technology stack.

Previously, Friktion, a Solana-based DeFi yield platform shut down its front-end app in January, with customers urged to withdraw their assets.

Source

Solana

Lending

DeFi

Related News
Solana Lending Protocol MarginFi saw $200M Users Fund Outflow in Two Days Solana Lending Protocol MarginFi saw $200M Users Fund Outflow in Two Days
The U.S. SEC Issued a Wells Notice to Uniswap The U.S. SEC Issued a Wells Notice to Uniswap
Congestion on Solana Forced Several Projects to Postpone Launches Congestion on Solana Forced Several Projects to Postpone Launches
Frax Finance to Allocate $250M Ethena's USDe to a New Liquidity Pool Frax Finance to Allocate $250M Ethena's USDe to a New Liquidity Pool
Solana Grappled with Congestion Issues, Developers Rushing to Devise Solutions Solana Grappled with Congestion Issues, Developers Rushing to Devise Solutions
Latest News More More
2 Days Ago DA Project Avail Confirmed Token Airdrop Plan
2 Days Ago Tether to Launch New Businesses, Tether Data, Tether Finance, Tether Power, and Tether Edu
3 Days Ago Lido Finance Implemented Simple Distributed Validator Technology (DVT)
3 Days Ago Real Opportunity for Runes only Comes After the Initial Hype
3 Days Ago Worldcoin Announced "Human Centric" Blockchain World Chain
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open