Fluid has announced securing a short-term loan to cover 100% of its current bad debt, ensuring the safety of user funds. The loan, backed by Lomashuk, cyberfund, weremeow, and Fluid's core team, aims to stabilize the protocol following a security incident. ResolvLabs will cover all USR positions created before the incident, facilitating necessary redemptions to close related debt positions.
Additionally, several investors have shown interest in purchasing FLUID from the treasury if more funds are needed, bolstering the protocol's financial safeguards. Fluid's smart contracts and markets are operating normally, though users may experience temporary interest rate fluctuations during liquidation periods.
Fluid Secures Loan to Cover 100% of Bad Debt, Ensures User Fund Safety
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