Venus Protocol Proposes Shutting Down 87 Deprecated Markets Across 8 Blockchains by June 29

According to Foresight News, Venus Protocol proposed shutting down 87 deprecated markets across BNB Chain, Ethereum, Arbitrum, and five other blockchains by June 29. The proposal executes in two steps: first, the protocol will set reserve factors to 100% and significantly raise borrowing rates to encourage users to exit; second, by the week of June 29, Venus will zero out collateral factors and liquidation thresholds, exposing remaining positions to liquidation risk.

Venus strongly recommends users with deposits or loans in the affected markets to close positions or withdraw assets before the deadline.