Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
  • Home
  • Crypto
    • Altcoins
    • Bitcoin
    • Ethereum
    • Monero
    • XRP
    • Zcash
  • Web3
  • DeFi
  • NFTs
No Result
View All Result
Altszn.com
No Result
View All Result

Fuji Finance is sunsetting operations due to dwindling funds

Altszn.com by Altszn.com
September 22, 2023
in Solana
0
Fuji Finance is sunsetting operations due to dwindling funds
399
SHARES
2.3k
VIEWS
Share on FacebookShare on Twitter

[ad_1]

Fuji Finance is sunsetting operations due to dwindling funds

Decentralized finance cross-chain money market aggregator Fuji Finance said the protocol was unable to find the market for its product, while also experiencing limited finance.

In a recent Medium blog post, the company said that it failed to find “product-market fit,” a situation which was made more difficult amid the current crypto bear market.

Fuji Finance’s attempts to raise additional funds for further development proved futile, and its team has been trying to attract more investors since last February, according to the blog post, but the effort seemed unsuccessful, causing the firm to decide to pull the plug amid its depleting treasury. 

“Since February of this year, the Fuji team has been fundraising to continue development on the protocol and build out the future of cross-chain DeFi operations. We were unable to find product market fit. With our treasury dwindling, we decided that we needed to begin to close down the company and end operations with no end in sight for the fundraise.”

Fuji Finance in a Medium blog post

Fuji initially launched the first aggregator service on Ethereum, which was also available on other chains including Fantom, Polygon, and Arbitrum. The protocol later publicly unveiled its V2 called Himalaya, a cross-chain money market aggregator, allowing users to borrow, deposit, repay, and withdraw their positions across any chain. Himalaya was deployed on Arbitrum, Ethereum, Optimism, and Gnosis Chain.

Meanwhile, Fuji advised users to close their positions and withdraw their funds as soon as possible, stating that the withdrawal window via the protocol’s user interface (UI) will be open until Dec. 31. Users who do not utilize this channel by the said date will have to interact with the platform’s smart contract protocol.

Apart from Fuji Finance, other DeFi lending protocols such as Algofi, Everlend, and SpiritSwap have shuttered their services in recent times. 


Follow Us on Google News



[ad_2]

Read More: crypto.news

Tags: dueDwindlingfinanceFujiFundsoperationsSolanaSunsetting
ADVERTISEMENT

Recent

VIRTUAL Rallies Ahead of First Ethereum-Based AI Agent Launch

VIRTUAL Rallies Ahead of First Ethereum-Based AI Agent Launch

June 15, 2025
Is it the future of finance?

Is it the future of finance?

June 15, 2025
U.S. Lawmakers Unveil CLARITY Act Regulating Digital Assets

U.S. Lawmakers Unveil CLARITY Act Regulating Digital Assets

June 10, 2025

Categories

  • Bitcoin (3,759)
  • Blockchain (9,101)
  • Crypto (7,298)
  • Dark Web (178)
  • DeFi (7,298)
  • Ethereum (3,693)
  • Metaverse (5,025)
  • Monero (99)
  • NFT (189)
  • Solana (4,586)
  • Web3 (17,395)
  • Zcash (378)

Category

Advertise

Advertise your site, company or product to millions of web3, NFT and cryptocurrency enthusiasts. Learn more

Useful Links

Advertise
DMCA
Contact Us
Privacy Policy
Shipping & Returns
Terms of Use

Resources

Exchanges
Changelly
Web3 Jobs

Recent News

VIRTUAL Rallies Ahead of First Ethereum-Based AI Agent Launch

VIRTUAL Rallies Ahead of First Ethereum-Based AI Agent Launch

June 15, 2025
Is it the future of finance?

Is it the future of finance?

June 15, 2025

© 2022 Altszn.com. All Rights Reserved.

No Result
View All Result
  • Home
    • Home – Layout 1
    • Home – Layout 2
    • Home – Layout 3

© Altszn.com. All Rights Reserved.

  • bitcoinBitcoin (BTC) $ 117,990.00
  • ethereumEthereum (ETH) $ 2,959.60
  • xrpXRP (XRP) $ 2.79
  • tetherTether (USDT) $ 1.00
  • bnbBNB (BNB) $ 694.00
  • solanaSolana (SOL) $ 163.27
  • usd-coinUSDC (USDC) $ 0.999978
  • dogecoinDogecoin (DOGE) $ 0.201891
  • tronTRON (TRX) $ 0.303651
  • staked-etherLido Staked Ether (STETH) $ 2,961.85
  • cardanoCardano (ADA) $ 0.718873
  • hyperliquidHyperliquid (HYPE) $ 46.50
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 117,770.00
  • wrapped-stethWrapped stETH (WSTETH) $ 3,548.18
  • suiSui (SUI) $ 3.42
  • stellarStellar (XLM) $ 0.378112
  • chainlinkChainlink (LINK) $ 15.30
  • bitcoin-cashBitcoin Cash (BCH) $ 517.69
  • avalanche-2Avalanche (AVAX) $ 20.86
  • leo-tokenLEO Token (LEO) $ 9.08
  • hedera-hashgraphHedera (HBAR) $ 0.197202
  • wrapped-eethWrapped eETH (WEETH) $ 3,172.07
  • shiba-inuShiba Inu (SHIB) $ 0.000013
  • the-open-networkToncoin (TON) $ 2.99
  • usdsUSDS (USDS) $ 0.999820
  • wethWETH (WETH) $ 2,964.74
  • litecoinLitecoin (LTC) $ 93.32
  • whitebitWhiteBIT Coin (WBT) $ 46.68
  • binance-bridged-usdt-bnb-smart-chainBinance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00
  • moneroMonero (XMR) $ 333.28
  • polkadotPolkadot (DOT) $ 4.00
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 117,995.00
  • ethena-usdeEthena USDe (USDE) $ 1.00
  • pepePepe (PEPE) $ 0.000012
  • bitget-tokenBitget Token (BGB) $ 4.41
  • uniswapUniswap (UNI) $ 8.57
  • aaveAave (AAVE) $ 300.29
  • bittensorBittensor (TAO) $ 391.99
  • daiDai (DAI) $ 1.00
  • pi-networkPi Network (PI) $ 0.470816
  • crypto-com-chainCronos (CRO) $ 0.104100
  • aptosAptos (APT) $ 4.88
  • ethena-staked-usdeEthena Staked USDe (SUSDE) $ 1.18
  • nearNEAR Protocol (NEAR) $ 2.51
  • okbOKB (OKB) $ 48.73
  • internet-computerInternet Computer (ICP) $ 5.38
  • jito-staked-solJito Staked SOL (JITOSOL) $ 198.55
  • blackrock-usd-institutional-digital-liquidity-fundBlackRock USD Institutional Digital Liquidity Fund (BUIDL) $ 1.00
  • ondo-financeOndo (ONDO) $ 0.892248
  • ethereum-classicEthereum Classic (ETC) $ 18.42