MilkyWay Finalizes $92,708 Revenue Distribution, Prepares for Permanent Shutdown
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 5d ago- Final Distribution Completed: On January 23, MilkyWay finalized its last protocol revenue distribution totaling $92,708, converted from fees collected in TIA, INIT, and BABY tokens, indicating some remaining cash flow before the project's closure.
- Eligibility Criteria: Eligible participants for this distribution included MILK token holders, MILK stakers, and liquidity providers, with a minimum threshold of 1 USDC set to ensure effective fund allocation, meaning addresses below this threshold will not receive any funds.
- Reasons for Shutdown: MilkyWay cited three core reasons for its closure: insufficient demand in decentralized finance (DeFi), the late launch of the WayCard, and failure to alleviate funding pressures in a timely manner, highlighting the challenging market environment.
- Future Implications: With MilkyWay's shutdown, community members must reassess their investment strategies in the DeFi space and seek new opportunities to adapt to market changes, reflecting the fragility of the current DeFi ecosystem.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
