We’re focusing on what we do best: bitcoin-backed lending. Removing ethereum allows us to streamline the platform, reinforce our bitcoin-first identity, and invest more deeply in what our clients rely on us for most — delivering the best bitcoin-backed loans in the game.
- New ETH-backed Loans: You will no longer be able to apply for a new ETH-backed loan as of July 1.
- Existing ETH-backed Loans: You can continue to manage (top up, repay, close) any existing ETH-backed loans. If your loan has not been repaid by the maturity date, your collateral will be sold to repay the loan and any remaining collateral will be returned to your Transaction account.
- ETH Deposits: You can withdraw your ETH at any time.
- For clients with an active ETH loan as of July 1, you will be allowed to deposit to your ETH Transaction account for the purposes of managing your loan.
- For clients with no active ETH loans as of July 1, no new deposits will be accepted into your ETH Transaction Account after July 1.
ETH Growth Accounts: Final interest payments will be paid out on July 1 and interest rates will be set to 0%. Your Growth Account balance will then be automatically moved into your Transaction Account at a later date. You will be able to withdraw ETH to your ETH Transaction account at any time.