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Solana's early DeFi protocol Lifinity has announced that it will gradually cease operations.
BlockBeats News, December 19th, according to SolanaFloor, Solana's early DeFi protocol Lifinity announced that it will gradually shut down its operations. Previously, with near-unanimous approval through a "Protocol Termination" proposal in the community governance, the team will unify the approximately $42 million treasury assets + $1.4 million development fund into USDC and distribute them proportionally to LFNTY token holders.
The community expects that each token can be allocated $0.90–$1.10. The redemption system is expected to go live approximately 9 days later, and any remaining funds unclaimed within a year will be airdropped again proportionally to users who have claimed.
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