Solana's Cardinal shuts down citing economic conditions
According to the protocol's closing schedule, part of the operations will cease on July 19, while the withdrawal period ends on August 26. Solana's Cardinal protocol is winding down operations due to economic conditions , nearly a year after raising $4.4 million to improve nonfungible tokens (NFT) utility. According to an announcement on Twitter, withdrawals should be made by August 26. Cardinal Labs was an infrastructure provider dedicated to supporting NFT use cases on the Solana network by offering protocols and software development kits (SDKs) for staking, rentals, subscriptions, royalties and trading. Hey Everyone, we have some unfortunate news to share After a lot of reflection, we’ve decided to begin the process of winding down our protocols. Let's dive into it ️ — Cardinal (@cardinal_labs) June 28, 2023 Based on the closing schedule, part of the operations will be halted on July 19, including staking pool creations, token management, NFT rentals and rental ext...