Solana ecosystem DeFi protocol Friktion: will shut down front-end website, advises users to withdraw assets

ChainCatcher news, the Solana-based options protocol Friktion officially announced that it has decided to shut down its user platform. As of January 25, 2023, all Volts settings on Friktion's user interface are in withdrawal mode only, and deposits are no longer possible. Users are advised to withdraw their assets.

According to crypto data platform Roodata, the development team behind Friktion, Friktion Labs, announced the completion of a $5.5 million funding round in January 2022, with participation from Jump Capital and others. (source link)