A blockchain/crypto/web3/DeFi enthusiast
*Disclaimer*
1) DYOR;
2) never follow my posts if you don't understand at all;
3) Loss of all principal may be possible
Dear Loopring and CIAN users,
As promised, CIAN finished injecting its own funds into the ETH/stETH/wstETH Mainnet Vault, its LP price has been returned to the correct value. Deposits and withdrawals also resumed.
Please check the LP price and your earnings. Contact us promptly for any question you have.
Hey, CIAN needs your support in the Aave & GHO Ecosystem Advancement Round!
Your vote can drive our projects forward. Voting is live, so don't miss out on making a difference.
Thank you for being with us! 🙌
https://t.co/NR7p1zgj9t
@AaveGrants@aave @GHOAave @gitcoin@gitcoinpassport
Dear CIAN & Loopring users,
We observed that LP price in the ETH/wstETH/stETH Mainnet vault dropped unexpectedly. With thorough review and inspection, it’s determined that 1. This is the only vault that experienced LP price drop, no other vaults are affected. 2. The LP price drop is rooted in a deleverage action that took place at a lower stETH price earlier this week with a relatively large slippage allowance.
To avoid any significant LP price drop incurred by the transaction slippage of position deleveraging in the future, the team has refined the slippage allowance and LP price-checking mechanism.
Further, the CIAN team decides to restore the CIETH price (LP Price) of this particular vault to its correct value through the injection of CIAN’s funds into the protocol. Therefore, no profit loss should be borne by the users.
To that end, we have temporarily paused deposits and withdrawals for all users in the ETH/wstETH/stETH Mainnet vault. Once the fund injection is accomplished, we'll reopen the vault and keep you updated on the latest developments.
If you have any questions or concerns about this vault or your funds, please reach out to us on Discord or Telegram for assistance. We are happy to provide support to ensure your concerns are addressed promptly.
We apologize to all the affected users and we greatly appreciate the long-standing support and trust. Please stay tuned to our Twitter and community channels for the latest updates.
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