RAY Wind-Down

Posted by Staked on Oct 15, 2021 4:05:12 PM

As a result of regulatory uncertainty in the United States, Staked will be shutting down the Robo-Advisor for Yield service (RAY) on November 1, 2022. RAY was an innovative experiment that worked well for depositors. Every depositor made money, earning a higher yield than they would have elsewhere. We’re disappointed that RAY will be shut down, but the landscape has evolved rapidly and the cost of dealing with undefined regulations is too great.

We kindly request that you withdraw your funds from RAY as soon as possible. On November 1, 2022, we will use our administrative keys to return all deposits to depositors, remove access from the Staked.us website and turn off the oracles that update RAY on a regular basis.

The RAY smart contracts remain open source and available for anyone to carry the torch. The Github repo is available here: https://github.com/Stakedllc/robo-advisor-yield

Topics: RAY, DeFi

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