ZeroLend founder “Ryker” says several blockchains the lending protocol operates on are now “inactive,” leading to periods where it has operated at a loss.
Decentralized lending protocol ZeroLend says it is shutting down completely after the blockchains it operates on have suffered from low user numbers and liquidity.
“After three years of building and operating the protocol, we have made the difficult decision to wind down operations,” ZeroLend’s founder, known only as “Ryker,” said in a post the protocol shared to X on Monday.
“Despite the team’s continued efforts, it has become clear that the protocol is no longer sustainable in its current form,” he added.
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