Developers to Restart Venus Protocol After Shutdown Due to Terra Incident
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Landing project Venus Protocol intends to restart its operations today at 12:39 CET.

The developers have previously turned off all price feeds to the protocol in order to avoid instant liquidation of users' assets.

The developers have said:

"We have put in place a plan to bring the Venus Protocol back online and ensure that all affected users can pay their debts and exit extremely highly leveraged positions. They will not face liquidation due to differences in market conditions compared to when the protocol was stopped."

The huge volatility of the LUNA token has led to problems displaying the price of the asset on Chainlink's decentralized Oracle network used by the project.

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Oracle's configuration did not allow displaying the price of the crypto below $0.1. Attackers took advantage of this. They contributed millions of tokens to the platform, using them as collateral. Due to this, the Venus Protocol lost around $13.5 million.

In order to protect users, the developers suspended the operation of the protocol.

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