Solana-Based Lending Protocol Everlend Finance Shuts Down Its App Platform

Solana-based DeFi lending protocol Everlend Finance has shut down its app platform citing the current liquidity crunch in the market.

The app is now in withdrawal-only mode and will run until the funds are fully withdrawn. In addition, the Everlend team says it will open-source its codebase so others can continue to build solutions using its technology stack.

Previously, Friktion, a Solana-based DeFi yield platform shut down its front-end app in January, with customers urged to withdraw their assets.