Deprecation of USDt Pool
We would like to inform you of upcoming changes regarding the USDt pool in light of the termination of USDt minting on the Algorand network on June 24, 2024. Please note that redeeming USDt on Algorand will remain possible until June 24, 2025.
Below are the main updates:
Changes to USDt Pools
- The USDt Borrow Cap will be decreased to 0, effectively disabling the ability of new users to borrow USDt.
- The USDt Collateral Cap for both General and Stable Efficiency modes will be reduced to 0, preventing new users from collateralizing USDt.
- The Collateral Factor will be reduced from 75% (General mode) and 85% (Stable Efficiency mode). For more details, see our Loan Collateral documentation.
- The Borrow Factor will be increased from 100%, leading to a higher effective debt position.
For details, refer to our Loan Borrow documentation.
Given these changes, we strongly advise to prioritize repayment of USDt-based loans and to remove USDt from collateral positions.
Implementation Schedule
These updates will be phased gradually, according to the schedule below, to allow users to adapt.
