Solana’s Cardinal protocol is winding down operations due to economic conditions, nearly a year after raising $4.4 million to improve nonfungible tokens (NFT) utility. According to an announcement on Twitter, withdrawals should be made by Aug. 26.
Cardinal Labs was an infrastructure provider dedicated to supporting NFT use cases on the Solana network by offering protocols and software development kits (SDKs) for staking, rentals, subscriptions, royalties and trading.
Based on the closing schedule, part of the operations will be halted on July 19, including staking pool creations, token management, NFT rentals and rental extensions, social media handles and new deposits. Withdrawals must be completed by Aug. 26...
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