Lending Protocol ZeroLend Announces It Will Cease Operations

According to an official announcement, after three years of operation, the decentralized lending protocol ZeroLend has decided to cease operations. ZeroLend stated that multiple early-supported blockchains have become inactive or experienced significant liquidity declines, oracle providers have stopped support, and coupled with an increase in hacker and scammer attacks, the protocol has been operating at a long-term loss. Currently, most markets have set the Loan-to-Value (LTV) ratio to 0%. ZeroLend strongly advises users to withdraw their remaining funds from the platform as soon as possible. For on-chain assets with severely deteriorated liquidity, the team is developing a solution that will execute a timelock upgrade to reallocate the affected assets.