Parallel: all markets on ParaSpace V1 will be frozen between July 2 and 9
Parallel Network, a full-chain L2 network, announced on social media that it will be shutting down the ParaSpace V1 lending platform according to the following steps: July 2 - July 9: All markets on ParaSpace V1 will be frozen. During this period, the loan-to-value (LTV) ratio of all assets will be adjusted to 0. Users will only be able to repay their loans and will not be allowed to make withdrawals. This period will last for 7 days until July 9th. July 10: After the 7-day period, all outstanding loan positions will be directly liquidated. Once the liquidation process is complete, withdrawals will be reopened.
Translated with DeepL.com (free version)
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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