DeFi lender ZeroLend to close after 98% TVL slide from $359 million peak

On Monday, ZeroLend founder "Ryker" said the DeFi lending protocol will be wound down after around three years of operation, following sustained losses and ecosystem challenges. Total value locked has fallen 98% from a November 2024 high near $359 million to $6.6 million, while the ZERO token has lost almost all its value since peaking at $0.001 in May 2024.