• DeFi lender ZeroLend shuts down, blames illiquid chains ZeroLend founder “Ryker” says several blockchains the lending protocol operates on are now “inactive,” leading to periods where it has operated at a loss. • Cointelegraph in your social feed Decentralized lending protocol ZeroLend says it is shutting down completely after the blockchains it operates on have suffered from low user numbers and liquidity. • “After three years of building and operating the protocol, we have made the difficult decision to wind down operations,” ZeroLend’s founder, known only as “Ryker,” said in a post the protocolsharedto X on Monday. • “Despite the team’s continued efforts, it has become clear that the protocol is no longer sustainable in its current form,” he added. • ZeroLend focused its services on Ethereumlayer-2 blockchains, once touted by Ethereum co-founder Vitalik Buterin as a central part of the network’s plan to scale and remain competitive. • However, Buterinsaid earlier this monththat his vision for scaling with layer 2s “no longer makes sense,” that many have failed to properly adopt Ethereum’s security, and that scaling should increasingly come from the mainnet and native rollups.
Article Summaries:
- Decentralized lending protocol ZeroLend says it is shutting down completely after the blockchains it operates on have suffered from low user numbers and liquidity. “After three years of building and operating the protocol, we have made the difficult decision to wind down operations,” ZeroLend’s founder, known only as “Ryker,” said in a post the protocol shared to X on Monday. “Despite the team’s continued efforts, it has become clear that the protocol is no longer sustainable in its current form,” he added. ZeroLend focused its services on Ethereum layer-2 blockchains, once touted by Ethereum
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