Solana-based Friktion urges users to withdraw funds as it halts front-end operations

Solana-based DeFi platform friction We urged users to withdraw funds from the protocol as there is a move to suspend all frontend operations.

The Friktion team said it made the difficult decision to cease operations due to the worsening financial crisis caused by the collapse of FTX and the repeated outages of Solana.

Specifically, the operating costs of the platform are Said Too expensive compared to its profit and cash flow.

As a result, friction announced On January 27th, we disabled the frontend interface to prevent users from initiating new deposits.

However, the platform is in “withdrawal-only mode”, allowing users to withdraw their Volt deposits.

“In the meantime, we strongly encourage users to withdraw their funds as the Friktion User Platform will begin the process of decommissioning,” said the Friktion team.

Prior to the recent bankruptcy crisis, Friktion surpassed $150 million in Total Value Lock (TVL) on Solana, with approximately $3 billion in trading volume.eFi Larma data indicate.

A post urging users to withdraw funds as Solana-based Friktion ceases front-end operations first appeared on CryptoSlate.

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