Parallel Network: The loan liquidation threshold will be reduced by 1% daily until the target value. Please be aware of the liquidation risk.

2024-06-26 07:37:10

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Odaily Planet Daily News According to Parallel Network, it stated on the X platform that the liquidation threshold of its NFT lending platform will be reduced by 1% daily until it is adjusted to the target value. For example, the BAYC threshold will be reduced from 80% to 65%, and the MAYC threshold will be reduced from 70% to 65%. Parallel stated that the reduction of the threshold will affect the health factor of borrowing and lending, and users should pay attention to the liquidation risk. Prior to this, Parallel Network stated that due to recent fluctuations and price declines in the NFT market, it will adjust the parameters of the NFT lending protocol to reduce systemic risk.

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