DeFi Project Everland Suspends its Operations

Landing protocol Everlend, which is based on the Solana blockchain, has announced the closure of the project.

According to the developers of the project:

“It was a very difficult decision, it took us a month to try to consider any options for moving forward.”

According to them, the decision was made due to the contraction in the borrowing/lending market and a lack of liquidity.

The platform has switched to withdrawal-only mode.

The team has said that they did not lack funding. However, they say that continuing to work under the current conditions was too risky.

Follow and like us on