The stablecoin protocol Ebisu has announced that it will gradually shut down, and the front-end will be discontinued on October 30th. Users are required to close their vaults, withdraw Stability Pool deposits, and ebUSD DEX liquidity before October 30th. ebUSD minting has been suspended. The Ebisu team was unable to expand the liquidity of ebUSD to support borrowing activities, and attempted solutions such as instant clearing, multi chain collateral, and structured vaults to address the liquidity and demand bottlenecks of the CDP protocol. Ebisu confirms that the EBISU token will not be launched and will not be airdropped to xEBISU or BOLD holders. xEBISU has no monetary value and is not convertible.
