Early Solana DeFi protocol Lifinity announces gradual shutdown of operations

BlockBeats News, December 19, according to SolanaFloor, the early Solana DeFi protocol Lifinity has announced that it will gradually cease operations. Previously, the community governance proposal to "terminate the protocol" was passed with nearly unanimous approval. The team will convert approximately 42 million USD treasury assets + 1.4 million USD development fund into USDC and distribute them proportionally to LFNTY token holders.

The community expects each token to be allocated between $0.90 and $1.10. The redemption system is expected to go live in about 9 days, and any unclaimed funds within one year will be airdropped again proportionally to users who have already claimed.