BTC Yield Protocol Structured announces platform closure and opens user redemption

BTC1,64%
WBTC1,58%

PANews February 21 News, BTC Yield Protocol Structured announced the closure of the platform and opened user redemptions. The project originally planned to offer a sustainable BTC yield strategy with recyclable leverage, which once achieved approximately 84 BTC TVL, with a historical annualized return of about 5%–7%. Since public testing began in October last year, users have increased their holdings by an average of about 1%. The team stated that in a bear market environment, high JLP entry and exit fees, along with decreased market liquidity, have led to strategy fee rates and drawdowns that are difficult to be covered by yields. The current risk-return profile no longer holds continued value. All funds are now custodied in WBTC, and users can redeem at a rate of 1 maxBTC = 1.009240684 WBTC on the Ethereum mainnet.

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