ParaSpace: The security patch review and testing have been completed, and the protocol will be restarted in phases before March 25

ChainCatcher news, the NFT lending protocol ParaSpace officially announced that the review and testing of the security patch have been completed to ensure the safety of user assets when the protocol is restarted on the mainnet. The withdrawal time lock contract is being improved and will undergo review and testing in the coming days. The ParaSpace team has decided to reopen the protocol in phases, prioritizing enhancements for repayments, supply, liquidation, loans, withdrawals, and time locks. The team expects all platform functions to be online by March 25. The repayment function of the first phase of the platform has already been launched, aiming to provide users with the opportunity to repay their debts while liquidation remains suspended.

The ParaSpace team will begin manually claiming and compounding APE staking rewards in the APE pool for users until the protocol goes live. Only users holding APE in the APE pool will continue to earn automatic compounding rewards during the phased reopening. ParaSpace will later share details of the reward plan for users affected by the protocol suspension and phased rollout, operational changes, and future incentive plans for continued use of the platform. (Source link)