Sunsetting of Vovo Finance

Vovo Finance has made the difficult decision to bid farewell to our user platform. Beginning today, all vaults will transition into Withdrawal-Only mode.

This decision was not made lightly. Vovo Finance has proudly pioneered the DeFi landscape, being the first protocol to launch principal protected structured products and integrating with GMX to introduce GLP vaults. However, as we reflect on the current state of DeFi, we must acknowledge that our products have not achieved the desired level of product-market fit as we had anticipated. The decline in DeFi yields compared to traditional finance yields has also diminished the attractiveness of our product offerings. Despite exploring alternative structured product vaults in recent months, we lack the strong confidence in the DeFi structured products space in the near to medium term.

We have diligently reduced costs since last year and still retain 80% of the raised funds. We believe it is our responsibility to make the most prudent decision and have opted to return all remaining funds to our investors and wind down the platform.

With immediate effect, the User Interface hosted at http://vovo.finance will transition into withdrawal-only mode for all accessible vaults. We want to assure you that the website will remain operational until the end of this year, enabling users to withdraw their funds. Even if the website becomes inaccessible, fund withdrawal can still be facilitated through the smart contract.

We empathize with the challenges this announcement may pose to our community, and we are fully committed to facilitating a seamless transition. We will be available on Discord for next 3 months to address any inquiries and provide the necessary assistance.

We extend our deepest gratitude to each and every individual who embarked on this extraordinary journey with us. Together, we have built a product that we can be truly proud of.

With heartfelt appreciation,

The Vovo Finance Team