Further service restoration of Pando Leaf (legacy Mixin Network version)
Pando Leaf (legacy Mixin Network version) is scheduled to further restore its service on December 20, 2023.
Restoration arrangement of Pando Leaf
Considering the severe loss percentage of ETH in the September 23 Mixin Network Exploit, to avoid the risk of liquidation in users' ETH-related vaults, ETH and sETH-BTC vaults in Leaf will continue pausing interest calculation and liquidation, and only allow repaying debts in one installment. XIN and MOB vaults in Leaf will also continue pausing interest calculation and liquidation for low liquidity.
Other vaults excluding ETH, sETH-BTC, XIN, MOB will resume interest calculations and liquidation, and allow partial repayments. This recovery only applies to the legacy mainnet version of Pando Leaf; the launch time for the new mainnet version of Pando Leaf is yet to be announced.
Arrangement of Pando Rings
Pando Rings will remain pausing interest calculation and liquidation, and only allow repaying debts in one installment.
Explanation of asset prices on Pando Leaf and Pando Rings
The calculation of ETH, BTC and USDT prices on Leaf and Rings is based on the formula Asset Price = Asset's current market price * (1 - Asset's loss percentage), in which the loss percentages of ETH, BTC and USDT are respectively 70%, 10%, and 90% in the September 23 hack incident. Please note that because the corresponding USDT bonds issued by Mixin Network don't yet have defined market prices, the calculation of asset prices of the affected assets currently don't include the value of MDT bonds.
Example: if the BTC's current market price is $50,000, the asset price of BTC in Leaf (legacy Mixin Network version) = $50,000 * (1-10%) = $45,000.
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.