The decentralized finance (DeFi) Yield Protocol project is expected to be completed by the end of this year due to a lack of demand and regulatory challenges.
The December 2023 series of the project will end on December 29, ending all loans and borrowings under the protocol, according to an announcement on Wednesday.
“We felt this decision was necessary because there is currently no sustainable demand for fixed-rate loans on the Yield Protocol,” Yield said. “In addition, the current regulatory environment in the US, combined with increasing regulatory requirements in Europe and Britain, makes it challenging for us to continue to support the Yield Protocol.”
At its peak in April 2022, Yield Protocol had that more than $22 million in total value lockedbut this figure has since shrunk to around $2 million.
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