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Solana's early DeFi protocol Lifinity announces it will gradually shut down operations
BlockBeats News, December 19 — According to SolanaFloor, early Solana DeFi protocol Lifinity announced it will gradually shut down operations. Previously, the community governance nearly unanimously approved the “Termination of Protocol” proposal. The team will convert approximately $42 million in treasury assets plus $1.4 million in development funds into USDC and distribute them proportionally to LFNTY token holders. The community expects each token to be worth $0.90–$1.10. The redemption system is expected to go live in about 9 days. Any remaining funds not claimed within one year will be airdropped again proportionally to users who have already claimed.