Asset Management Protocol Babylon Finance to Shut Down and Distribute Treasury Holdings Amongst $BABL and $hBABL Holders

Asset Management Protocol Babylon Finance to Shut Down and Distribute Treasury Holdings Amongst $BABL and $hBABL Holders
Asset management protocol Babylon Finance announced that the protocol will be shut down on November 15th as the team hasn't been able to revert the negative momentum caused by the Rari Capital hack incident. The team will consolidate all remaining treasury holdings and distribute them amongst $BABL and $hBABL holders, which will start on September 6th. Users need to withdraw their funds before November 15th. According to TokenInsight data, $BABL price dropped by 95.7% over the last 24 hours, trading at $0.219200 now.
Source

DeFi

In This Article

Related News
Term Finance recovers $1 million of $1.6 million loss to oracle configuration error Term Finance recovers $1 million of $1.6 million loss to oracle configuration error
Wildcat, the decentralized credit platform built by Crypto Twitter mainstay Laurence Day, launches new version on Ethereum Wildcat, the decentralized credit platform built by Crypto Twitter mainstay Laurence Day, launches new version on Ethereum
Bernstein names Robinhood as top 'crypto deregulation trade,' raises price target to $51 Bernstein names Robinhood as top 'crypto deregulation trade,' raises price target to $51
Radiant Capital hacker moves $52M in stolen funds Radiant Capital hacker moves $52M in stolen funds
Tesla likely still owns $780M in Bitcoin despite recent shuffle: Arkham Tesla likely still owns $780M in Bitcoin despite recent shuffle: Arkham
Latest News More More
1 Day Ago Ethereum community plans onchain ‘time capsule’ to mark 10th anniversary of network’s genesis block
6 Days Ago Circle's post-IPO stock surge pushes market cap near Coinbase and USDC
June 20 Kraken offers bitcoin ‘staking’ yield via Babylon without wrapping or lending
June 17 Trump makes over $57 million from WLFI sales, Truth Social files for Bitcoin and Ethereum combo ETF, and more
June 13 XRP Ledger adopts USDC one week after Circle goes public
delate
Use TokenInsight App All Crypto Insights Are In Your Hands
Open