The DeFi platform Vestige will cease operations on December 31

According to official news, the DeFi platform Vestige will cease operations on December 31, shutting down its main site, API, trading aggregator, and related services.

Vestige stated that the trading volume in the Algorand ecosystem has been insufficient over the past year to cover the costs of operating Vestige. The team delayed the closure as much as possible, but maintaining smooth service operations has been costly, and profitability has not been achieved in the long term. The assets in user wallets will not be affected, and the assets deposited in the treasury can still be accessed through the retained old front end.

Vestige will also destroy all remaining VEST tokens in its treasury and the VEST liquidity voucher tokens it holds.