Pando Rings and Leaf Resumes Collateral Redemption/Withdrawal
Starting from October 24th, 2023, Pando Rings and Pando Leaf will resume functions including:
- For Pando Rings to resume redemption of Liquidity Provider Token (LP Token) liquidity pools that contain USDT(ERC20), BTC, ETH and/or BOX, and repayment of all liquidity pools. Please be noted that pledged LP Tokens can be redeemed only after full payoff of the debt
- For Pando Leaf to resume repayment and withdrawal of all liquidity pools. Please be noted that under the current operation, debt in Leaf has to be paid off in one installment. Trying to repay only partially the debt will receive error message "Balance of debt must be no less than 10000000 pUSD". And only after repaying all debt can collaterals be withdrawn.
- Pando Swap (4swap) has supported conversion to pUSD from both USDC and USDT(TRC20). Please click on the link https://app.pando.im/swap/pusd and connect your wallet to continue the transaction.
Furthermore, Pando Swap (4swap) has already resumed liquidity management functions including liquidity addition and removal starting from October 17th, 2023.
Which LP Tokens are recommended for withdrawal/redemption?
USDT (ERC20), BTC, ETH and BOX suffered loss in the Mixin Network exploit that happened on September 23, 2023. The loss percentage are 90%, 10%, 70%, and about 7.3% respectively on the current version of Mixin Mainnet. We recommend you remove liquidity of all LP Tokens liquidity pools that contain USDT(ERC20), BTC, ETH and/or BOX. Specifically, that include:
LP Token in Pando Leaf: sBTC-ETH
LP Token in Pando Rings: sXMR-BTC, sUSDT(ERC20)-pUSD, sEOS-BTC, sXIN-BOX, sBTC-XIN, sBTC-pUSD, sUSDT(ERC20)-BOX, sETH-pUSD, sMOB-USDT(ERC20), sMOB-BTC, sUSDT(ERC20)-BTC, sBTC-BOX, sETH-USDT(ERC20), sBOX-pUSD, sETH-BTC, sDOT-BTC, sETH-EOS, sBTC-wBTC, sRUM-USDT, sETH-XIN, and sAVAX-USDT(ERC20).
In Pando Swap (4swap):
- USDT (ERC20) pools include: MOB/USDT(ERC20), XIN/USDT(ERC20), RUM/USDT(ERC20), BOX/USDT(ERC20), pUSD/USDT(ERC20), HMT/USDT(ERC20), USDC(ERC20)/USDT(ERC20), BTC/USDT(ERC20), USDT(ERC20)/USDT(TRC20), EOS/USDT(ERC20), ETH/USDT(ERC20), USDT(ERC20)/USDT(Polygon), USDC(Polygon)/USDT(ERC20), XDC/USDT(ERC20), AVAX/USDT(ERC20), AKT/USDT(ERC20)
- BTC pools include: BTC/pUSD, ETH/BTC, BOX/BTC, DOT/BTC, BCH/BTC, wBTC/BTC, AAVE/BTC, AVAX/BTC, MOB/BTC, ATOM/BTC, LTC/BTC, XIN/BTC, DOGE/BTC, SHIB/BTC, LINK/BTC, AKT/BTC, ALGO/BTC, UNI/BTC, ZEN/BTC, XMR/BTC, USDT(ERC20)/BTC, AR/BTC, EOS/BTC, HMT/BTC, MATIC/BTC, FIL/BTC, TRX/BTC, ZEC/BTC, SOL/BTC, XRP/BTC, KSM/BTC, DCR/BTC, XTZ/BTC, DASH/BTC, BSV/BTC, RVN/BTC, XLM/BTC
- ETH pools include: pUSD/ETH, XIN/ETH, MOB/ETH, MANA/ETH, HMT/ETH, EOS/ETH, SOL/ETH, USDT(ERC20)/ETH, UNI/ETH, BTC/ETH
- BOX pools include: BOX/XIN, BOX/USDT, BOX/BTC, BOX/EOS, BOX/pUSD, BOX/BNB
For liquidity of pools NOT containing USDT(ERC20), BTC, ETH and/or BOX, you don't have to withdraw liqudity of them.
Why is it recommended to withdraw liquidity of the affected LP Tokens
Pando Swap (4swap) will resume trading soon. After the trading resumes, the market may set new prices for the tokens affected by the hack. The change in the prices may bring heavy imperament loss for the liquidity providers of the tokens. So it’s recommended that liquidity providers of USDT (ERC20), BTC, ETH and BOX pairs withdraw your liquidity now. You can provider liquidity back in again after the market sets new prices for the tokens.
How to redeem LP Token in Pando Rings
Click on the bot Pando Rings @7000104159, select "Me" page, then check whether you still have debt balance under the "Borrowing" tab. After full repayment of the debt, you will be able to redeem LP tokens of the resumed LP token liquidity pools.
How to withdraw collateral assets in Pando Leaf
Click on the bot Pando Leaf @7000103924, select "Home" page then click on "My Vaults". After full repayment of the debt of a vault, you will be able to withdraw the collateral asset.
How to remove liquidity (redeem assets from LP Tokens) in Pando Swap
To check the liquidity you've provided, you can click on the bot Pando @7000105018, connect your wallet then "liquidity mining" under "Me" page; or directly with the link https://app.pando.im/swap/pool?tab=account.
You can then withdraw after choosing the specific liqudity pool.
Q: I see a blank page after clicking on the Pando bot @7000105018. What can I do?
A: Please check the system version of your phone. For iOS users, please make sure your phone has been upgraded to 14.1 version or above; for Android users, please upgrade to 10.0 version or above and make sure the version of Chrome core is 78 or above. You can use the link https://app.pando.im/tools.html to check the browser information of your phone.
Q: How long does it take for me to receive tokens after I withdraw liquidity? A: Usually it will be very quick. For large sum, you may need to allow for some extra time as it needs to pass a security check of the system.
Q: When will the service of Rings and Leaf be resumed completely? A: It depends on the launch of the new Mixin Mainnet. We will be announcing the time after the launch of the new Mixin Mainnet.
The information contained in this article is for informational purposes only and does not constitute financial, investment, or other professional advice. The views expressed in this article are those of the author and do not necessarily represent the views of the company or organization they work for or Pando. Any investment decisions made by the reader should be made after consulting with their own financial advisor and conducting their own research. The author and the company or organization they work for and Pando will not be liable for any financial losses incurred as a result of reliance on the information contained in this article.