Solana's early DeFi protocol, Lifinity, announced it will gradually shut down its operations.

According to SolanaFloor, Lifinity, an early DeFi protocol of Solana, announced it will gradually shut down operations. Previously, the community governance almost unanimously passed a "termination agreement" proposal. The team will convert approximately $42 million in treasury assets plus $1.4 million in development funds into USDC and distribute it proportionally to token holders. The community expects each token to receive between $0.90 and $1.10. The exchange system is expected to launch in about 9 days, and any remaining funds not claimed within the past year will be airdropped proportionally to users who have already claimed them.