Wrapping up Crystl Finance

#CrystlCrew

First and foremost, we want to thank you all for the amazing past 15 months that Crystl Finance has been a project. It feels like 10 years and we can’t count all of the special memories and great people we have met along the way.

Some of our greatest accomplishments include:

  • Over $30,000,000 TVL at our peak
  • +$2,000,000 given out in reward Pools
  • Created & launched our own original strategies through V3 Vaults
  • More than 100 Partnerships & Vaults/Ultra Farms
  • Launched novel code on 5 different Chains

However, with the current state of the Crypto & DeFi space and the lack of TVL we have been able to garner, the core team will be stepping away from working on Crystl Finance as there isn’t enough funds coming in to support implementations, expansions, or full-time work.

This decision wasn’t made by the team lightly, and we understand this is frustrating and upsetting to many users, but we wanted to keep our transparency to the community.

Please note, the sites will stay up with Vaults & Ultra Farms continuing to function, but there won’t be any further expansions or Vaults added. Compounds will only occur if a user deposits, withdraws, or calls earn on a Vault or Ultra Farm. However, we will continue to keep the site active as long as there is enough income to cover operational costs.

The Current State of Crystl

Over the past few months as the market has downturned, we have seen our TVL and APRs of Vaults & Ultra Farms decline which directly affects both DAO income and Revenue Sharing Pools. At current rates, the amount coming in for Revenue Sharing isn’t enough to support adequate liquidity for $CRYSTL.

With our cross-chain expansions and $CRYSTL Craze Boosts, we were hoping to secure enough TVL to greatly increase our income to support team members and expansions, but unfortunately it isn’t near enough to continue.

What will happen to $CRYSTL & Pools?

The current reward farms and pools for $CRYSTL will continue until rewards are finished. This includes the $CRYSTL-$CRO Farm and Vault on CronaSwap and the $CRYSTL-$GLMR Farm and Vault on StellaSwap.

After this month, the rewards for Revenue Sharing will discontinue as it will not be enough to provide ample liquidity for $CRYSTL. Users can use $CRYSTL liquidity on the above farms to earn rewards until they are finished.

The team would like to personally thank everyone for being with us on this journey, and wish everyone in the Crystl Crew the best in the future.

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Crystl Finance

Crystl Finance

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Discover unprecedented flexibility for maximized passive income with Vaults, Ultra Farms & Revenue Sharing that is only possible on Crystl Finance💎