ChainCatcher reports that Fluid has posted on X that the team has secured a short-term loan sufficient to cover 100% of the current bad debt in the protocol. These funds have been committed by Lomashuk, cyberfund, weremeow, and Fluid’s core team to ensure the safety of user funds. ResolvLabs has confirmed it will cover all USR positions created prior to the security incident and will enable necessary redemptions to close related debt positions. Additionally, several investors have expressed interest in purchasing FLUID from the treasury should additional funds be required, further strengthening the protocol’s backup safeguards. Fluid’s smart contracts are functioning normally, all other markets are operating as usual, and protocol safeguards remain intact; users may experience temporary interest rate fluctuations during liquidation periods.
Fluid Secures Short-Term Loans to Cover 100% of Bad Debt; User Funds Are Safe
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Summary
Fluid has secured short-term loans to cover 100% of its bad debt, ensuring user funds remain safe. Lenders include Lomashuk, CyberFund, Weremeow, and the Fluid core team. ResolvLabs will cover all USR positions prior to the incident and enable redemptions. Investors have also expressed interest in purchasing FLUID from the treasury if needed. Smart contracts are operating normally, and markets remain stable. Users may experience temporary interest rate fluctuations during liquidations. This action improves the risk-to-reward ratio for long-term investment in the protocol.
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