Venus proposes to close 87 deprecated markets on multiple chains, users must withdraw by June 29

Foresight News reports that the decentralized lending protocol Venus Protocol has released a proposal to integrate 87 deprecated markets across 8 chains, including BNB Chain, Ethereum, and Arbitrum. The proposal will be executed in two steps: first, setting the reserve factor to 100% and significantly increasing borrowing rates to encourage users to exit; second, during the week of June 29, setting the collateral factors and liquidation thresholds of the relevant markets to zero, which will expose these positions to liquidation risk. Venus strongly advises borrowing or deposit users in these markets to close their positions or withdraw assets before this occurs.