After carefully evaluating the project’s current status, we’ve made the tough decision to gradually cease support for the Lybra Finance UI front end and community over the next three months.
Here’s our planned timeline—thank you for all your support:
August 1 – Begin the wind-down process. If you still have outstanding debt on the protocol, please repay it ASAP; otherwise, the protocol's forced-redemption feature will be activated on August 31 to clear the protocol's total debt and facilitate the exit of eUSD and peUSD.
August 31 – Activate the protocol's forced-redemption feature. The protocol will repay each borrower's outstanding debt on their behalf. In return, their equivalent collateral will be converted into USDC and deposited into the USDC Repayment contract.
September 1 – Open the USDC Repayment contract. Holders of eUSD V2 and peUSD (Ethereum) will be able to exchange their tokens for USDC at a 1:1 ratio.
October 31 – Officially cease support for the website, community, and all social media channels.
Thank you again for being part of Lybra Finance.
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