Altura’s wave of closing the warehouse is decent enough—at least it didn’t leave users with nothing. It’s also normal that they couldn’t withstand the 8.5 million redemption pressure.

CryptoWorld News reports that Altura has announced it will begin closing its stablecoin yield vaults after a weekend saw a surge in redemption requests. CEO Ranveer Arora said the protocol processed more than $8.5 million in instant redemption requests within 24 hours, and then decided to orderly close the vault. Arora explained that the team made this decision because of “ongoing redemption demand and current market sentiment.” He emphasized that Altura’s top priority is users’ capital, and the team wants all redemptions to be completed in a “fair, transparent, and efficient manner.” This announcement marks a major change for the vaults built around stablecoin yields.