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MilkyWay Protocol Announces Gradual Shutdown and Permanent Closure

2 hours ago

On January 15, MilkyWay Protocol announced it is winding down operations gradually and will shut down permanently. The protocol cited three key factors: a mismatch between decentralized finance (DeFi) demand and adoption falling short of expectations, the delayed launch of its WayCard, and its failure to quickly ease financial pressures. MilkyWay’s revenue was primarily generated from liquidity staking fees, with the protocol retaining a 10% share. As part of its shutdown process, USDC will be distributed proportionally to eligible snapshot holders to refund accrued protocol fees to MILK token holders.
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