Join our discord for real time updates on the fUSD and DEI issues. An announement on a fix will be released imminently.

16 May 2022, 09:15
Join our discord for real time updates on the fUSD and DEI issues. An announement on a fix will be released imminently.

Same news in other sources

1
Scream
ScreamSCREAM #6367
Telegram
16 May 2022, 09:48
We are currently working on a solution to the fUSD bad debt issue. The Fantom Foundation has agreed to run a liquidation bot that will liquidate any underwater positions that use fUSD as collateral. They have taken this task because their liquidation mechanism is currently under audit and will be released within the next 3-4 weeks (Should bring fUSD to $1). To people who have lent their fUSD: In the next 24-48 hours, we will be hardcoding fUSD to $0.81, which will force some currently "healthy"positions into liquidatable positions. PLEASE MAKE SURE TO REPAY BACK ANY LOANS IF YOU DO NOT WANT TO BE LIQUIDATED. For the DEI situation, the primary lenders of DEI have agreed to repay back all debts borrowed out. We will solely be relying on Chainlink Oracles to ensure optimal health of the protocol going forward. This will be our policy moving forward.
We are currently working on a solution to the fUSD bad debt issue.
We are currently working on a solution to the fUSD bad debt issue. The Fantom Foundation has agreed to run a liquidation bot that will liquidate any underwater positions that use fUSD as collateral. They have taken this task because their liquidation mechanism is currently under audit and will be released within the next 3-4 weeks (Should bring fUSD to $1). To people who have lent their fUSD: In the next 24-48 hours, we will be hardcoding fUSD to $0.81, which will force some currently "healthy"positions into liquidatable positions. PLEASE MAKE SURE TO REPAY BACK ANY LOANS IF YOU DO NOT WANT TO BE LIQUIDATED. For the DEI situation, the primary lenders of DEI have agreed to repay back all debts borrowed out. We will solely be relying on Chainlink Oracles to ensure optimal health of the protocol going forward. This will be our policy moving forward.