Solana’s Everlend: What happens when project fails to meet liquidity needs

Everlend recently announced that it is shutting down its operations. Assessing the potential impact of Solana’s new loss. Every blockchain network aims to achieve healthy growth and the same goes for dApps and projects operating within those networks. But, success is not always guaranteed especially in unfavorable market conditions. Solana’s Everlend yield and lending aggregator […]

Assessing the potential impact of Solana’s new loss.

According to the announcement, Everlend has opted to shut down its operations after failing to achieve enough liquidity.and won’t continue its developmentEverlend praised Solana for being one of the most efficient networks despite its unfortunate fate. Liquidity is the lifeline of every lending and borrowing protocol in the crypto market.

There are other reasons why it failed aside from its inability to secure enough operational liquidity. The bear market may have exasperated the situation towards the end of 2021 and all of 2022.

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