Today we are announcing that Remora Markets will be winding down operations, effective immediately.
All Remora rTokens remain fully backed 1:1, as they always have. We are currently working on a redemption process to allow holders to redeem their tokens for USDC, and will share full details shortly.
Following recent events impacting our parent company, Step Finance, we explored paths to continue operating but were ultimately unable to find a sustainable way forward.
We are grateful to our users, partners, and the broader Solana community for their trust and support.
Further updates will be shared soon.
As part of the wind up process, Remora has now made available USDC exit liquidity for Remora rTokens placed at market close friday pricing. Liquidity is deployed on manifest but is picked up by your favourite swap router Jupiter, Titan or others. Users are able to swap their rTokens at the current market price via these avenues.
Please IMMEDIATELY swap available rTokens for USDC as Remora is now being wound up and tokens are unsupported and will have no value. Thank you for your patience and support of our project.
- Remora Team
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๐ณ Jupiter whales voting against airdrop
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