PANews, November 2: Initia announced that Initia L1 and Rollups have been restored and are now operating normally. Cross-chain bridges and trading platforms are expected to resume transfer functions later today. As a precautionary measure, withdrawal processing times for LayerZero OFT assets (WETH and AUSD0) will be set to 24 hours; withdrawals of Noble USDC will be subject to hourly limits. Asset backing for AUSD0, USDC.n, and WETH has been fully restored.
Initia L1 and Rollups Resume Normal Operations
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Summary
Initia L1 and Rollups have resumed normal operations, with cross-chain bridge and trading platform transfers expected to be restored later today. Withdrawals for LayerZero OFT assets such as WETH and AUSD0 will take 24 hours, while Noble USDC withdrawals are subject to hourly limits. Full asset backing for AUSD0, USDC.n, and WETH has now been restored. With the Fear & Greed Index showing signs of stabilization, altcoins to watch may see renewed interest as network functionality returns to normal.
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