📢Good news! Parallel Network, the full-chain L2 network, announced that it has ended the ParaSpace V1 business. 👏👏👏

🔔Next, they will follow certain steps to close the ParaSpace V1 lending platform. First, from July 2 to July 9, all markets on ParaSpace V1 will be frozen. During this period, 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.

⏰Then, on July 10, after the 7-day period, all positions with outstanding loans will be directly liquidated. Once the liquidation process is complete, withdrawals will be reopened.

This is an important milestone and a big step for the blockchain industry. We look forward to seeing more progress and development! 🚀🚀🚀