Yield Protocol to Shut Down by End of 2023 Due to Low Demand and Regulatory Pressures

Yield Protocol announced it will shut down operations by end of 2023 due to lack of business demand and regulatory pressures.

The March 2024 fixed rate series launch was canceled. There is low demand for fixed-rate borrowing on Yield Protocol.

Unfavorable crypto regulations in the U.S., Europe and U.K. contributed to the shutdown decision.

Liquidity providers will stop accruing fees starting now. All borrowing and lending will end by December 31.

2023 saw other DeFi protocol shutdowns like Geist Finance and None Trading due to exploits and attacks.