DeFi project Paradigm Labs to shut down

According to The Block, Paradigm Labs, a decentralized project supported by Polychain Capital, Dragonfly Capital and Chapter One Ventures, is about to shut down. CEO Liam Kovatch said on Tuesday that the project was shut down due to the inability of the product to match the market and lack of funding. It is reported that the project received seed round financing in 2018 and is committed to developing a liquidity integration protocol for decentralized exchanges.