DefiEdge Stops Retail Deposits

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DefiEdge, a liquidity management protocol, yesterday announced that it has temporarily blocked all deposits to its strategy contracts made through its user interface.

This sudden change has left users searching for alternative options. The protocol had previously announced on September 30 that some strategies would be removed from its platform.

However, the deposit block seems to apply to all strategies, not just the ones mentioned in the announcement.

At the time of publication, withdrawals from DefiEdge are still functioning normally.

According to a spokesperson for DefiEdge, the decision to block deposits was made to transition towards business-to-business liquidity management and move away from retail liquidity management.

The team claims that partner exchanges were aware of this change and that liquidity providers have been supportive.