According to Huoxing Finance, on April 1, the Cosmos ecosystem lending blockchain UX Chain officially announced that it will gradually suspend operations. Users must close all open positions before the platform-wide liquidation process begins on April 30. The protocol is expected to be fully shut down by May 15. UX reserves and treasury funds will be used to cover the protocol’s funding shortfall.
Cosmos Ecosystem Lending Blockchain UX Chain to Cease Operations by May 15
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Summary
UX Chain, a lending protocol in the Cosmos ecosystem, announced on April 1 that it will gradually cease operations. Users must close all positions by April 30 ahead of the full liquidation process. The platform will shut down entirely by May 15. On-chain updates reveal that UX’s reserves and treasuries will be used to cover the funding shortfall. The move underscores the challenges of growth within the decentralized finance ecosystem.
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