According to Wu, the stablecoin project UXD Protocol on Solana announced its closure and plans to return unused capital to investors. The project currently has $7.5 million in user deposits. The UXD team said that due to insufficient liquidity and the failure of its stablecoin model to succeed in the market, it decided to close the project. The closure process is expected to take up to two years in order to convert illiquid assets into USDC and return them to investors.