Genius Yield, a decentralized trading and yield protocol in the Cardano ecosystem, is gradually shutting down, according to ChainCatcher. Co-founder Lars Brünjes said on Oct. 22 that he independently developed an open-source tool called Genius Zero to address problems users have faced when trying to withdraw assets.
The tool lets users bypass Genius Yield’s original backend servers and interact directly with Cardano smart contracts. Through Genius Zero, users can unstake assets, cancel DEX orders, and withdraw funds without relying on the protocol’s previous backend infrastructure.
Brünjes also said the original DEX trading fees still flow to an address controlled by Genius Yield. Changing the fee setting requires signatures from at least three of the project’s four original founders, and that level of authorization has not yet been secured.
Genius Yield, a decentralized trading and yield protocol in the Cardano ecosystem, is gradually shutting down, according to ChainCatcher.
Co-founder Lars Brünjes said on Oct. 22 that he had independently developed an open-source tool, Genius Zero, to address issues that prevented users from withdrawing assets normally. The tool allows users to bypass Genius Yield’s original backend servers and interact directly with Cardano smart contracts to unstake, cancel DEX orders, and withdraw assets.
He added that the original DEX trading fees still go to an address controlled by Genius Yield. Any fee adjustment requires signatures from at least three of the project’s four original founders, and sufficient authorization has not yet been obtained.
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