Orby Network closes September 30.
The team is still here to help you exit cleanly. No one should be left holding anything they can't get out of.
Head to Discord if you need help: https://t.co/is2OcmHIHE
A few weeks left before the USC-USDC V3 Pool closes.
Swap your $USC for USDC before it closes.
After June 30, the pool will be shut down. Time is running out.
Step-by-step guide: https://t.co/odPFNTIKWW
September 30 is the Orby Network shutdown date.
Here is what you still need to do:
1. Claim any collateral gains from the Stability Pool
2. Claim and convert esORB to $ORB
3. Redeem $USC via the V3 pool (open until June 30)
4. Withdraw all remaining funds
Questions? Open a ticket in Discord: https://t.co/OzpDQMZtZ4
The V3 USC-USDC pool on VVS Finance is live until June 30. Swap your $USC for USDC before it closes.
If you have Stability Pool deposits or collateral positions still open, unwind those first.
Step-by-step guide: https://t.co/odPFNTIKWW
Orby Network shuts down on September 30.
Before that date, make sure you have:
- Redeemed all $USC
- Claimed collateral gains and esORB rewards
- Converted esORB to $ORB
- Withdrawn everything from the Stability Pool
Do not leave it until the last minute.
Our Commitment to $USC Holders
We hear you. $USC has been trading above peg. We know users with open collateral positions on Orby cannot repay their debt without buying $USC at a premium.
And we know the silence has left the community without answers.
We should have done better.
Here is where we stand.
Within 14 days, we are committed to publishing a comprehensive plan with everything you need to exit safely. This will include the detailed path forward for $USC and Orby Network, and step-by-step instructions for redeeming your collateral.
The Orby Network Team
๐ก $USC is Orby Network's stablecoin, always backed by more than its value in diverse collateral assets. This overcollateralization design ensures stability and strengthens its peg. https://t.co/zcBbEgPHA7
Meet $USC, Orby Network's native stablecoin! ๐ก It's always overcollateralized by diverse digital assets to maintain its stability and security. Discover how it works: https://t.co/zcBbEgPHA7
๐ก $USC is Orby Network's decentralized stablecoin, soft-pegged to the US Dollar. Its value is secured by being always overcollateralized with various digital assets, enhancing its stability. https://t.co/zcBbEgPHA7
๐ก The Stability Pool is essential for maintaining Orby Network's stability. Users deposit $USC to help liquidate undercollateralized shuttles, absorbing debt and receiving collateral in return.
https://t.co/zcBbEgPHA7
Orby Network introduces $USC, its native stablecoin, designed to maintain a soft peg to 1 USD. This stability is achieved through an overcollateralized borrowing mechanism, ensuring robust backing for every token.
https://t.co/zcBbEgPHA7
Orby Network enables you to borrow $USC, an overcollateralized stablecoin soft-pegged to USD, by depositing supported collateral on the Cronos chain. This provides a way to access liquidity while keeping your crypto assets.
https://t.co/zcBbEgPHA7
Orby Network introduces $USC, an overcollateralized stablecoin soft-pegged to 1 USD, enabling a new way to access stable liquidity on Cronos. Discover how to leverage your assets responsibly within the protocol.
https://t.co/zcBbEgPHA7
๐ข 1 day left until the Cronos Smarturn upgrade!
โ๏ธ Block height: 38432212
โฐ ETA: Oct 30, 7AM GMT (3PM HKT/SGT) โ estimated
๐ ~60 mins downtime expected
Track here ๐
https://t.co/w7wkJ6ddYR
All Cronos services will pause during upgrade - plan your txs accordingly: https://t.co/RmUmgZphHu