DeFi platform Zaros to Cease Operations Due to Fund Depletion

BlockBeats News, May 10th, DeFi platform Zaros announced that it will stop project operations due to running out of funds. "Over the past five months, we have spared no effort to explore every possible path, including transformation, extending the funding runway, and evaluating strategic choices. Despite the team's tremendous efforts, we no longer have the funds to continue advancing this project."

The team faced many issues, such as launching the entire product at once instead of modular releases and the timing of the token launch.

BlockBeats previously reported that on May 23, 2024, DeFi platform Zaros completed a $1.8 million financing round, with participation from SNZ Holdings, Seven Capital, Cogitent Ventures, DCI Capital, Antony Sassano, Fernando Martinelli, Kieran Warwick, Andy Chen, and Kevin Lu, among others. Zaros aims to enhance perpetual futures trading by using Liquid Stake Token (LST) and Liquid Restake Token (LRT).