Parallel has ended ParaSpace V1 business and will gradually shut down the lending platform
Odaily2024/07/03 09:13
By:Odaily
Odaily News The full-chain L2 network Parallel Network announced on X that it has ended the ParaSpace V1 business. Next, the ParaSpace V1 lending platform will be closed according to the following steps: July 2-July 9: All
markets on ParaSpace V1 will be frozen. During this period, the loan-to-value ratio (LTV) of all assets will be adjusted to 0. Users can only repay loans, and withdrawals are not allowed. This phase will last for 7 days until July 9; July 10: After the 7-day period, all positions with outstanding loans will be directly liquidated. Once the liquidation process is completed, withdrawals will be reopened.
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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