Another DeFi lender has called it quits.
ZeroLend announced Monday that it is winding down operations after three years, with founder “Ryker” saying the protocol had become unsustainable. The core issue was not a single exploit or market crash, but a slow bleed
Several of the layer 2 networks ZeroLend operated on saw activity and liquidity dry up, while some oracle providers stopped supporting those chains altogether. That made it harder to run lending markets reliably, and revenues failed to keep up with costs.
At its peak in November 2024, ZeroLend held nearly $359 million in total value locked. That figure has now collapsed by about 98% to roughly $6.6 million. The ZERO token fell another 34% in the past 24 hours and is down 99% from its 2024 high.
This story is an excerpt from the Unchained Daily newsletter.
Subscribe here to get these updates in your email for free
Users are being urged to withdraw funds, though some assets remain stuck on thinly traded networks. The team says it plans contract upgrades to help redistribute stranded liquidity. For token holders, however, the project’s closure appears final.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin wallet Nunchuk releases open-source tools, enabling AI agents to interact with the wallet
Bitcoin Wallet Nunchuk released an open-source tool on April 9 that supports interactions with AI agents. It includes the Nunchuk CLI command-line tool and the Agent Skills code repository, providing a variety of wallet management features.
GateNews2h ago
Tether launches open-source local AI toolkit QVAC SDK
Tether launched the open-source software development kit QVAC SDK on April 9, supporting running AI applications locally, compatible with multiple platforms, with features such as text generation and speech processing, and enabling peer-to-peer distribution via Holepunch. In the future, it will add decentralized training and toolkits tailored for robots.
GateNews3h ago
Electricity Is Now Tokenized on XRP Ledger With $861 Million In Live Value
_XRP Ledger now hosts $861M in tokenized electricity via JMWH, tracking real energy use on-chain with full transparency._
The XRP Ledger continues to expand beyond payments. A new use case now tracks real electricity consumption on-chain, highlighting a live market tied to energy assets.
The
LiveBTCNews3h ago
Circle launches a CPN hosted payments product, allowing financial institutions to operate on its payment network
Circle’s official announcement: it is launching CPN managed payments, enabling banks and fintech companies to conduct fiat and stablecoin transactions on the Circle Payments Network without having to manage digital assets or compliance requirements themselves. This will accelerate the adoption by global financial institutions and expand Circle’s product lineup.
GateNews3h ago
The TON blockchain has completed a major upgrade, with overall processing speed increasing by about 10x
Telegram founder Pavel Durov announced that the TON public chain has completed a major upgrade. Overall processing speed has increased by about 10x, block generation speed has improved by 6x, and transaction confirmations reach sub-second level. This is the first step of the “Make TON Great Again” plan; in the future, transaction fees will be further reduced by about 6x.
GateNews3h ago
Circle’s Arc open-sources testnet code and launches a bug bounty program on HackerOne
Gate News message: On April 9, Circle’s L1 blockchain, Arc, announced that it has open-sourced the testnet code ahead of going live on the mainnet. Effective immediately, developers can independently start testnet nodes and review the source code. At the same time, Arc has launched a bug bounty program on the HackerOne platform.
GateNews5h ago
