Information about migration and difficulties arisen in the process of its implementation. Thank you for your patience and trust!
As you know, the old BUSD and USDT pools used a strategy related to the BNB rate and lending on Venus. Due to the abnormal growth of BNB, we decided to transfer client funds to a safer pool, and compensate for all losses under this strategy at the expense of the company. During the process of migrating funds to new pools, an error was made in the execution of the contract, so now we need confirmation from the Venus team. User funds are safe and deposited on Venus’s balance, this can be checked using the links below.
After the removal of restrictions on managing funds, users who have migrated funds will be rewarded in DFX for their patience and support in resolving the situation that has arisen!
The work on migrating user funds to new pools is almost done from DeFireX side, we will make every effort to make client funds available in the near future. Despite the problems, we continue to develop the project and today we will launch a new farming without market risks for BUSD and USDT!
The Venus team is currently working on a big update, which is announced for April 15th. In this regard, the exact time that the Venus team will need to confirm and implement settings and dependencies to remove restrictions is being clarified. We negotiated with major liquidity providers so they direct the profit to clients with smaller balances. The DeFireX team also is going to launch a reserve pool, the profit from which will be sent to users whose balances are in the process of migration. This decision will make profit-taking available in the near future!
In the future, the funds from the reserve pool, plus the team’s personal funds from $ 500,000 to $ 1,000,000 million, will be used to create the DFX security fund. We will tell you more about it in the next article.