Genius Yield Winds Down as Users Struggle to Withdraw Cardano Assets

Genius Yield is winding down operations as users face problems withdrawing assets from its decentralized exchange and yield protocol. The new tool, Genius Zero, provides a way to carry out several actions through Cardano smart contracts.

Genius Yield co-founder Lars Brünjes introduced the open-source tool on Oct. 22. It bypasses the platform’s backend and lets users unstake assets, cancel decentralized exchange orders and withdraw funds.

Trading fees from the exchange continue to flow to an address controlled by Genius Yield. Changing the fee rate requires signatures from at least three of the four original founders, and the project has not secured enough authorization.