umee

Prop 205: Proposal to freeze supply and borrow on UX token registry

Given the current state of the Cosmos ecosystem and the volatility of the market, UX has decided to take the most prudent approach to the lending and borrowing functions to avoid putting the platform and users into further risks. As a result, below is the gov prop that effectively disables any new lending and borrowing abilities. Withdrawal works as normal. Liquidation works as normal. Borrowing interest calculation works as normal and hence all borrowers are encouraged to pay off your outstanding debts. In summary, users are strongly recommended to unwind their positions and withdraw from UX. Please vote 'Yes' if you support this proposal, and 'No' if you oppose it. Commonwealth post: https://common.xyz/ux/discussion/1312274-Protocol%20Status%20Update