According to Odaily Planet Daily, the full-chain L2 network Parallel Network has announced the end of ParaSpace V1 business on the X platform and will close the ParaSpace V1 lending platform in a certain step. From July 2 to July 9, all markets on ParaSpace V1 will be frozen, the loan-to-value ratio (LTV) of all assets will be adjusted to 0, and users can only repay loans, and withdrawals are not allowed. This phase will last for 7 days until July 9. On July 10, after the 7-day period, all positions with outstanding loans will be directly liquidated, and withdrawals will be reopened once the liquidation process is completed.
