đ¨ ZeroLend announces suspension of operations: Important matters for users to focus on
The crypto lending protocol ZeroLend officially announced that due to the current model being "unsustainable" in the context of declining liquidity and increasing risks, it has decided to cease operations.
Core reasons:
Infrastructure failure: The price oracle provider has stopped supporting some networks, making secure risk management impossible. Liquidity crisis: Liquidity in networks such as Manta, Zircuit, and X Layer has significantly decreased. Economic factors: Low yields, high security maintenance costs, and ongoing risk of hacking attacks have resulted in the project being in a long-term loss state.
User action guide:
Withdraw assets immediately: The loan-to-value ratio (LTV) for most markets has dropped to 0%, and borrowing functions have been disabled. Please withdraw your assets as soon as possible. Handling of frozen funds: For restricted funds in low liquidity networks, the team is planning to gradually update smart contracts to release as many assets as possible. Official channels: If you encounter problems, please be sure to contact via official Discord or support tickets, and do not trust private messages.
In addition, the team promises to partially compensate victims of the LBTC vulnerability on the Base network through LINEA token distribution.
Please remain vigilant and beware of fraudulent links from fake "customer service" in the comments section!đĄď¸
#ZeroLend #DeFi #ĺ ĺŻć°éť #čľäş§ĺŽĺ ¨ #ćľĺ¨ć§
