Yeti Finance: The protocol will be closed and YETI holders can redeem approximately 90% of the funds in the vault

On December 28th, Avalanche ecosystem lending protocol Yeti Finance announced on social media that, in order to ensure the safety of user funds, it has decided to close the protocol after discussions. The reasons include a significant decrease in TVL and revenue, the fact that the majority of YUSD is held by a small number of users, and the risk of hacker attacks. Currently, YETI holders can redeem approximately 90% of the funds in the current treasury, and the interest rates of outstanding loans on the protocol will be raised within 3 months to encourage owners to close positions and withdraw deposits.