Gradual shutdown, stablecoin protocol Ebisu's frontend will be deactivated on October 30

Odaily Planet Daily News: High-yield stablecoin protocol Ebisu has announced a gradual shutdown, with its frontend to be deactivated on October 30, three months from now. Users must close their vaults, withdraw Stability Pool deposits, and ebUSD DEX liquidity before October 30; ebUSD minting has been suspended. Ebisu aimed to provide fixed-rate credit through ebUSD, but the team was unable to scale ebUSD liquidity enough to support meaningful borrowing activity. After attempting various solutions such as instant liquidation, multi-chain collateral, and structured vaults, the core bottleneck of the CDP protocol in generating sufficient liquidity and persistent demand for stablecoins remains unresolved. Ebisu confirmed that the EBISU token will not be launched, nor will there be any airdrop to xEBISU or BOLD holders; xEBISU has no monetary value and is non-redeemable.