Operations to cease on December 31: DeFi platform Vestige to shut down main site and related services

Odaily reports that DeFi platform Vestige will cease operations on December 31, shutting down its main site, API, trading aggregator, and related services. Vestige stated that trading volume in the Algorand ecosystem over the past year was insufficient to cover the platform's operating costs. The team delayed the shutdown as long as possible, but the service costs were high and profitability was never achieved over the long term. Assets in user wallets are unaffected, and assets deposited in vaults remain accessible through the retained legacy frontend. Vestige will also burn all remaining VEST tokens in its treasury as well as the VEST liquidity receipt tokens it holds.