Hi Port Mates,.
09 Nov 2022, 06:30
Hi Port Mates,
As Sol price is very volatile at the moment, we have decided to set LTV of Sol/stSOL/mSOL to 0% and reduced LTV on other assets as well. It is not an easy decision but this is to ensure the protocol health in this volatile times. We understand that some of you might be impacted by this, we are monitoring the situation and would increase the LTV slowly once the situation has stabilised.
We have disabled borrow on UI for the time being, we will announce it again once it's made available.
There is no issue with the protocol and it is still working as intended. As usual, it is better to be safe than sorry.
On a side note, the liquidation UI still works. Anyone can liquidate positions that have > 100% risk factor and get reward for liquidating.
Thanks for the support!