Dear users,.
21 Jul 2023, 01:57
Dear users,
After the Poly Network hacking incident, Wing Finance DAO promptly dealt with various risks, and continued to urge and assist Poly Network to figure out the solution as soon as possible.
Before the final plan come out, Wing Finance DAO decided to make the following adjustments:
1. The borrow interest rate of WBTC assets in the Flash Pool(Ontology) is too high, which damages the interests of community users. Therefore, we decide to temporarily adjust the borrow interest rate to range from 0 to 6%.
2. The burn function of the original protocol is to destroy 5 million Wing out of the initial 10 million Wing to 0 address AFmseVrdL9f9oyCzZefG6UbvhPbdYzM, 2.36 million wing have been burned at present, and the remaining burn function address is currently changed to a non-0 address ATVQ3AycWw62CuTPkAb58bZfigu9oXbk3c, allocation rate and period (10 years) maintain the original unchanged. The subsequent burn or disposal of these Wing tokens will be contingent on the final resolution of the Poly Network hack incident. After the resolution plan is presented, Wing Finance DAO will assess its impact and propose potential alternative options for voting by the community members to decide.
3.Wing Finance DAO will gradually restore the functions of supply, borrow, liquidation for each Flash Pool in the near future.
This month, in response to the hack incident, Wing Finance DAO has initiated an emergency governance process, with the overall priority being to protect the interests of the community users. Any changes after the restoration will be subject to a vote by the community.
We will continue to advance the incident handling process and promptly communicate relevant information to the community members.
We're deeply grateful for the understanding and support shown by the Wing DAO community users during this incident. Stay safe and secure (SAFU)!
Best Regards,
Wing Finance Team
July 20, 2023
Same news in other sources
1Wing FinanceWING #751
21 Jul 2023, 01:57
Dear users,
After the Poly Network hacking incident, Wing Finance DAO promptly dealt with various risks, and continued to urge and assist Poly Network to figure out the solution as soon as possible.
Before the final plan come out, Wing Finance DAO decided to make the following adjustments:
1. The borrow interest rate of WBTC assets in the Flash Pool(Ontology) is too high, which damages the interests of community users. Therefore, we decide to temporarily adjust the borrow interest rate to range from 0 to 6%.
2. The burn function of the original protocol is to destroy 5 million Wing out of the initial 10 million Wing to 0 address AFmseVrdL9f9oyCzZefG6UbvhPbdYzM, 2.36 million wing have been burned at present, and the remaining burn function address is currently changed to a non-0 address ATVQ3AycWw62CuTPkAb58bZfigu9oXbk3c, allocation rate and period (10 years) maintain the original unchanged. The subsequent burn or disposal of these Wing tokens will be contingent on the final resolution of the Poly Network hack incident. After the resolution plan is presented, Wing Finance DAO will assess its impact and propose potential alternative options for voting by the community members to decide.
3.Wing Finance DAO will gradually restore the functions of supply, borrow, liquidation for each Flash Pool in the near future.
This month, in response to the hack incident, Wing Finance DAO has initiated an emergency governance process, with the overall priority being to protect the interests of the community users. Any changes after the restoration will be subject to a vote by the community.
We will continue to advance the incident handling process and promptly communicate relevant information to the community members.
We're deeply grateful for the understanding and support shown by the Wing DAO community users during this incident. Stay safe and secure (SAFU)!
Best Regards,
Wing Finance Team
July 20, 2023
Dear users,.
Dear users,
After the Poly Network hacking incident, Wing Finance DAO promptly dealt with various risks, and continued to urge and assist Poly Network to figure out the solution as soon as possible.
Before the final plan come out, Wing Finance DAO decided to make the following adjustments:
1. The borrow interest rate of WBTC assets in the Flash Pool(Ontology) is too high, which damages the interests of community users. Therefore, we decide to temporarily adjust the borrow interest rate to range from 0 to 6%.
2. The burn function of the original protocol is to destroy 5 million Wing out of the initial 10 million Wing to 0 address AFmseVrdL9f9oyCzZefG6UbvhPbdYzM, 2.36 million wing have been burned at present, and the remaining burn function address is currently changed to a non-0 address ATVQ3AycWw62CuTPkAb58bZfigu9oXbk3c, allocation rate and period (10 years) maintain the original unchanged. The subsequent burn or disposal of these Wing tokens will be contingent on the final resolution of the Poly Network hack incident. After the resolution plan is presented, Wing Finance DAO will assess its impact and propose potential alternative options for voting by the community members to decide.
3.Wing Finance DAO will gradually restore the functions of supply, borrow, liquidation for each Flash Pool in the near future.
This month, in response to the hack incident, Wing Finance DAO has initiated an emergency governance process, with the overall priority being to protect the interests of the community users. Any changes after the restoration will be subject to a vote by the community.
We will continue to advance the incident handling process and promptly communicate relevant information to the community members.
We're deeply grateful for the understanding and support shown by the Wing DAO community users during this incident. Stay safe and secure (SAFU)!
Best Regards,
Wing Finance Team
July 20, 2023