News/Asset Management Protocol Babylon Finance to Shut Down and Distribute Treasury Holdings Amongst $BABL and $hBABL Holders

Asset Management Protocol Babylon Finance to Shut Down and Distribute Treasury Holdings Amongst $BABL and $hBABL Holders

Sep 01,2022,10:42
Asset management protocol Babylon Finance announced that the protocol will be shut down on November 15th as the team hasn't been able to revert the negative momentum caused by the Rari Capital hack incident. The team will consolidate all remaining treasury holdings and distribute them amongst $BABL and $hBABL holders, which will start on September 6th. Users need to withdraw their funds before November 15th. According to TokenInsight data, $BABL price dropped by 95.7% over the last 24 hours, trading at $0.219200 now.
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