Update on RIZ Market Unpause & Fix Implementation

RIZ markets on @BNBCHAIN and @arbitrum were temporarily paused due to RIZ and dLP contracts interacting with compromised addresses. A fix has since been developed and thoroughly audited by @BlockSecTeam to verify its security and effectiveness.

After Radiant's recent attack, a new multi-signature configuration and additional security measures have been implemented, which increase the time needed for upgrades but ensure a higher level of protection for the protocol. The required fix is now moving through a 72-hour time lock. Once this period concludes, RIZ markets are expected to come back online later this week.

To assist users at risk of liquidation, a 24-hour grace period will take effect once RIZ markets are unpaused. During this time, the liquidation threshold will be set to 95%, allowing users whose health factors are close to 1 the chance to either repay their debt or add collateral. After 24 hours, the liquidation threshold will return to its previous setting, and users who haven’t made adjustments may risk liquidation.

Stay tuned for announcements in the coming days, and remember to take the necessary steps to protect your positions once the grace period begins.