DeFi protocol Altura announced Sunday that it will begin an orderly wind-down of its stablecoin yield vault following substantial withdrawal requests over the weekend.
In a post on social media platform X, Altura CEO Ranveer Arora said the platform has processed more than 8.5 million USDT in instant redemptions over the 24 hours leading up to his post, amid what he described as an "unprecedented level" of withdrawal requests.
"Given the sustained withdrawal demand and current market sentiment, we have made the difficult decision to begin an orderly wind-down of the Altura vault," Arora wrote. "Our priority remains the protection of user capital and ensuring all redemptions are completed in a fair, transparent, and efficient manner."
The vault, which had reached a peak total value locked of $39 million on HyperEVM, allocates stablecoin deposits across multiple strategies, including funding-rate arbitrage, market making, and real-world asset (RWA) positions.
According to Arora, Altura has notified all counterparties and partners of the decision and has begun unwinding positions, including allocations held on exchanges, in private credit, and in real-world asset strategies. The CEO added that some positions may take longer to be fully redeemed.
