Lending platform ZeroLend announces it will cease operations.

According to an official announcement, the decentralized lending protocol ZeroLend has decided to cease operations after three years. ZeroLend stated that several early-supported blockchains have become inactive or experienced significant liquidity declines, oracle providers have ceased support, and increased attacks from hackers and scammers have resulted in the protocol operating at a loss for an extended period. Currently, most markets have set their loan-to-value (LTV) ratio to 0%, and ZeroLend strongly advises users to withdraw any remaining funds on the platform as soon as possible. For on-chain assets with severely deteriorated liquidity, the team is developing a solution to upgrade the execution time lock to redistribute affected assets.