DeFi platform Vestige will shut down on December 31 and burn the remaining VEST tokens.
TechFlow reports on November 15 that DeFi platform Vestige Labs announced it will cease operations on December 31, 2026, at which point its official website, API, swap aggregator, and related services will all be taken offline.
Vestige stated that trading volume in the Algorand ecosystem has remained insufficient over the past year, failing to cover the platform's operating costs. Although the team delayed the closure as long as possible, the business has been running at a loss for an extended period. The team reminded developers and third-party applications utilizing the Vestige API to complete their migration before the deadline. Assets held in users' self-custody wallets remain unaffected, while assets deposited into Vaults can still be accessed via legacy.vestige.fi.
Additionally, Vestige will burn all remaining VEST tokens in the project treasury, along with the VEST liquidity tokens it holds. Evolved from TinyChart, the platform’s swap aggregator has cumulatively facilitated trading volumes exceeding $200 million.
