Dear users,
This announcement is relevant to all users who stake ETH (F.K.A ETHOLD) on the JustLend platform. Please read it carefully.
We would like to inform you about a significant change regarding the ETH market. We will be reopening the ETH market with adjusted parameters, setting the collateral factor to 75% and the reserve factor to 20%. It is expected to take effect at around 23:59 on Nov 18, 2024(SGT). After taking effect, users will be able to borrow and supply on the ETH market again, and we welcome everyone to participate in the market to earn more returns.
Previously, we have opened the ETHB market and closed the ETH market, as ETHB provided a more decentralized alternative, giving users greater autonomy and control. However, as time has progressed, we have observed that the ETH market still shows strong market development and potential. To protect our users and ensure stable growth within the JustLend ecosystem, we have decided to reopen the lending functionality in the ETH market and adjust its parameters accordingly.
Among these adjustments, increasing the collateral factor allows users to borrow larger amounts, providing more flexibility and opportunities for investment within the ETH market. Additionally, the adjustment of the reserve factor reflects our confidence in the ETH market, as JustLend DAO strives to establish a platform that supports both higher user returns and healthy, sustainable development.
As JustLend has granted the right of governance to the community, adjustment of any parameters needs to be decided by the community through voting. We have initiated the proposal on the adjustments mentioned above. Please closely follow JustLend Proposals for more details.
We are committed to maintaining the stability and security of our platform and will continue to monitor the situation closely. Your understanding and attention to this matter are greatly appreciated.
Thank you for your support!
JustLend DAO
Nov 18, 2024 (Singapore time)