Binance has announced a compensation plan for users affected by the depegging of USDE, BNSOL, and WBETH on October 11. The incident was caused by a large institutional cross-margin portfolio liquidation, leading to forced liquidations and significant price deviations within 40 minutes. Affected users will be compensated based on the price difference at 08:00 on October 11 and liquidation costs, with completion expected within 72 hours.
In response, Binance is implementing three risk control upgrades: adjusting index weights, setting a minimum price floor for USDE, and increasing the frequency of risk control parameter reviews. These measures aim to prevent similar incidents in the future.
Binance to Compensate Users for USDE, BNSOL, WBETH Depegging
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.