Structured, a BTC yield protocol, has announced the closure of its platform, allowing users to redeem their assets. The project, which aimed to offer a sustainable BTC yield strategy with recyclable leverage, achieved a total value locked (TVL) of approximately 84 BTC and a historical annualized return of 5%–7%. Since its public beta launch last October, users experienced an average 1% increase in holdings. The team cited the bear market environment, high entry and exit fees, and decreased market liquidity as factors that made the strategy's risk-reward ratio unsustainable. All funds are now held in custody in WBTC, and users can redeem them on the Ethereum mainnet at a rate of 1 maxBTC = 1.009240684 WBTC.