Odaily News: DeFi lending protocol Sentiment announced on Twitter that it will be shutting down Sentiment V1 on August 22nd due to its unscalable architecture. Sentiment V2 is currently under development. The team mentioned that users will still be able to withdraw funds even after the UI is no longer supported.



The closure of Sentiment V1 will occur in three steps. Starting from August 15th, the market will no longer accept new loans, but borrowers and lenders can still make repayments and withdrawals. After August 22nd, the web application will still be accessible, but core contributors will no longer maintain it.



In previous news on July 31st, Sentiment tweeted that they temporarily suspended the protocol's operation as a precautionary measure, following the disclosure of vulnerabilities by the Curve and Vyper teams. It is reported that Sentiment suffered a hack in April, and the hacker returned $880,000 while keeping $96,000.