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TechFlow news, on September 9, Suilend, a lending protocol in the Sui ecosystem, officially announced the suspension of IKA borrowing until further notice. This morning, IKA surged from $0.04 to $0.47, causing some IKA loans to be liquidated at excessively high valuations, resulting in subsequent losses and a funding shortfall of $379,000. IKA depositors have been affected, with each IKA depositor's IKA balance reduced by 6%.
Suilend, a lending protocol in the Sui ecosystem, officially announced the suspension of IKA borrowing until further notice. This morning, IKA surged from $0.04 to $0.47. Some IKA loans were liquidated at excessively high valuations, causing subsequent positions to incur losses and resulting in a funding shortfall of $379,000. IKA depositors have been affected, with each IKA depositor's IKA deposit balance reduced by 6%.
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