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The DeFi project Alpaca Finance announced that it will soon cease operations.
Gate News bot, the DeFi project Alpaca Finance on BNB Chain officially announced that after extensive internal deliberation and a comprehensive assessment of the future direction of development, the team has made an extremely difficult decision to discontinue Alpaca Finance and all its products. This decision was not taken lightly, but the team believes it is the most responsible move to keep the community safe, smooth and secure.
The platform will gradually phase out all products over the next few months, including its initial yield farming platform, automated vaults, and decentralized perpetual contracts. Frontend access will remain open until December 31, 2025, to allow users time to withdraw their assets.
It stated that the reasons for its closure after four years of operation were declining revenue, failed merger negotiations, and the exchange delisting last month.