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MilkyWay Protocol announces gradual shutdown of operations and permanent closure
BlockBeats News, January 15 — MilkyWay Protocol announced it is gradually ceasing operations and will shut down permanently. MilkyWay stated that the demand and adoption for decentralized finance did not meet expectations, and WayCard was launched too late to effectively alleviate funding pressures.
MilkyWay’s revenue mainly comes from liquidity staking fees, with the protocol retaining a 10% share. As part of the closure process, USDC will be distributed proportionally to eligible snapshot holders, returning the earned protocol fees to MILK token holders.