Vestige Labs announced it will close its Algorand-based DeFi platform, including its website, API, and swap aggregator, by December 31, 2026. The shutdown is due to prolonged low trading volumes that made it impossible to cover operating costs or achieve profitability. Users' assets in personal wallets remain safe, while those with vault deposits can access funds via a legacy frontend until the deadline. Vestige will also burn all remaining VEST tokens in its treasury, avoiding market disruption. This closure highlights challenges in sustaining DeFi projects on Algorand due to insufficient ecosystem activity.
Vestige's plan to shut down its Algorand DeFi platform by the end of 2026 comes as a backdrop to a broadly declining cryptocurrency market on Pluang. For readers following major cryptocurrencies, here is Pluang's market snapshot as of Nov 15, 2026 07:21 WIB: out of 50 major cryptos, only 4 rose while 45 fell today. Notably, SUSHI dropped 11.45% to Rp2.730 with a typical hold time of 103 days and 99% sell order activity, contrasting with SAND which fell 11.39% to Rp652 but had 100% buy order activity and a longer hold time of 125 days. ADA also fell 11.41% to Rp2.717, with 76% sell and 24% buy order activity and the longest hold time of 128 days among the three.
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