Zest Protocol Suspends New Loans After Binance Fallout
Uk Jin
Summary
- Zest Protocol said it had temporarily suspended new loans as a precautionary measure to protect users.
- Zest Protocol said existing loan positions remain overcollateralized and that the market remains healthy.
- Zest Protocol said its products have no exposure to Binance and that new lending will resume depending on market conditions.
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DeFi platform Zest Protocol has temporarily suspended new lending services.
On October 30, Zest Protocol wrote on its official X account, formerly Twitter, that it had halted new loans as a precautionary measure to protect users following the Binance incident.
It added that existing loan positions remain overcollateralized and the market remains healthy. Zest Protocol's products also have no exposure to Binance.
The platform said new lending services will resume depending on market conditions.
Uk Jin
wook9629@bloomingbit.ioH3LLO, World! I am Uk Jin.