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.
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