ParaSpace: Funds have been recovered from BlockSec and are working to restore cAPE to a 1:1 peg with APE

2023-03-19 14:08:36

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ChainCatcher news, the NFT lending protocol ParaSpace announced that funds have been recovered from BlockSec and are currently rebalancing the liquidity pools on the platform, while also working to fix the cAPE redemption so that it can restore to a 1:1 ratio with APE. Once the phased reopening of the protocol begins, the front end and similar components will be fixed to display correct and accurate data.

ParaSpace also stated that it is implementing security enhancements from a contract perspective, including time-locking withdrawals for large withdrawal requests. ParaSpace plans to establish a 24/7 Solidity team across all time zones to monitor contract transactions in real-time, while increasing the bug bounty amount for critical bugs to $200,000.

Additionally, ParaSpace has begun interviewing for a stability and security director. (Source link)

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ParaSpace NFT APE lending protocol

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