Everlend Finance Shuts Down Its App Owing to Liquidity Issues

Solana-based DeFi lending protocol Everlend Finance has shut down its app platform, despite having sufficient runway to continue operating in the current business environment. Everlend Finance App Facing A Liquidity Crunch The Everlend team has moved the platform to withdraw-only mode. Users have been urged to remove their assets. The app will continue to operate until all withdrawals have been processed, the announcement stated. The team also outlined plans to cover all raised and unused funds within the next two weeks. Everlend attributed the decision to shut down to the liquidity crunch facing DeFi lending participants. The team stated that continuing The post Everlend Finance Shuts Down Its App Owing to Liquidity Issues appeared first on Cryptoknowmics-Crypto News and Media Platform .