Cardano's Genius Yield Gradually Winds Down Operations

Cardano-based decentralized exchange and yield protocol Genius Yield is gradually winding down operations. According to ChainCatcher, co-founder Lars Brünjes said on October 22 that he independently developed an open-source tool, Genius Zero, to address users’ inability to withdraw assets.Genius Zero lets users bypass Genius Yield’s original backend servers and interact directly with Cardano smart contracts to unstake, cancel DEX orders and withdraw assets. Trading fees from the original DEX still go to an address controlled by Genius Yield. Changing the fee rate requires signatures from at least three of the four original founders, but sufficient authorization has not yet been obtained.