Parallel Network: The lending liquidation threshold will be reduced by 1% daily until the target value is reached. Please be aware of the liquidation risk

ChainCatcher news, Parallel Network announced on social media that the borrowing liquidation threshold of its NFT lending platform will be reduced by 1% daily until it reaches the target value. For example, the BAYC threshold will be lowered from 80% to 65%, and the MAYC will be reduced from 70% to 65%. Parallel stated that the threshold reduction will affect the lending health coefficient, and users should be aware of liquidation risks.

Previously, Parallel Network indicated that due to recent fluctuations in the NFT market and declining prices, it will adjust the parameters of the NFT lending protocol to reduce systemic risk.