Zapper shuts down after 7 years despite $13B peak volume – Details
The post Zapper shuts down after 7 years despite $13B peak volume – Details appeared on BitcoinEthereumNews.com. Zapper, a DeFi asset manager, has announced plans to shut down after nearly seven years of operation. To quantify the scale of its operation, the asset manager had attracted over 2 million active monthly users while it processed over $13 billion at its peak in transaction volume. Yet, the strong user adoption did not translate into a sustainable business model as revenue declined due to intensified competition. This competition narrowed the asset manager’s profit margin, crippling its operations. Source: Zapper on X On the 3rd of August, the asset manager will shut down completely, bringing an end to its operations. The platform will assist its users in transitioning. Seb Audet, Co-Founder and CEO of Zapper, acknowledged that Zapper fell short of its mission. On a post on X he stated, Zapper’s mission was to make DeFi more accessible, and while we did not realize that missio