News/Yield Aggregation Platform Tulip Protocol Resumed Deposits

Yield Aggregation Platform Tulip Protocol Resumed Deposits

Nov 30,2022,19:25

Solana-based yield aggregation platform Tulip Protocol announced that it has resumed deposits on Tulip and is currently focused on improving its experience on the Solana Saga.

The recent FTX incident resulted in the value of Sollet Assets (soBTC & soETH) plummeting. In total, Tulip protocol experienced approximately $120,000 in bad debt; which was covered by the insurance fund.

Previously, Tulip Protocol announced on November 14th that it paused lending deposits, new leveraged position creation and whirlpool deposits until on-chain liquidity stabilizes/improves.

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