COINOTAG News, reporting on December 19, confirms that Lifinity, an early DeFi protocol on Solana, will execute a phased shutdown. The decision follows a near-unanimous Protocol Termination vote within the governance process, signaling a formal wind-down rather than an abrupt exit for the project.
Under the plan, roughly $42 million in treasury assets plus a $1.4 million development fund will be converted into USDC and allocated pro rata to LFNTY holders. The community projects per-token returns in the range of $0.90–$1.10.
The redemption system is expected to go live about nine days after governance approval. Any unclaimed funds remaining after 12 months will be redistributed via an airdrop to users who have claimed, maintaining liquidity clarity for Solana DeFi participants.
Source: https://en.coinotag.com/breakingnews/lifinity-shuts-down-on-solana-converts-roughly-43m-treasury-to-usdc-for-lfnty-holders
