WEMIX. Fi - Completion of measure regarding increased mUSDC deposit yield and loan fee rate on the Lending Market.
05 Nov 2023, 05:56
WEMIX.Fi - Completion of measure regarding increased mUSDC deposit yield and loan fee rate on the Lending Market
Official WEMIX site announcement:
The deposit yield and loan fee rates have become excessively high due to the increased use of mUSDC in the WEMIX.Fi Lend & Borrow service.
To facilitate a seamless withdrawal process for depositors and ensure stable interest rates, the foundation has injected 10,000 mUSDC into the lending market.
[Details]
• Service: WEMIX.Fi (https://wemix.fi)
• Issue: Increase in mUSDC deposit yield and loan fee rates in the lending market
• Reason: Decrease in deposit assets due to asset withdrawals following the lending market closure notice
• Measure: Stabilized by depositing 10,000 mUSDC into the mUSDC lending market
Thank you.