The growing adoption of cryptocurrency has backed the sudden growth of the popularity of digital assets. As technology evolves, the risk of getting hacked and scammed is growing; bad actors use high-functioning machines to commit these thefts.
Prisma Finance paused its service on March 28 after it faced a theft of $11.6 Million; the ecosystem recently informed that it had devised a plan to uplight the halt over the services safely.
Restarting the borrowing facility over Prisma Finance will require consensus through an ongoing vote.
Frank Olson, a core contributor of Prisma Finance, suggested a way to “safely” resume the protocol and re-enable the ability for users to deposit liquid staking tokens (LSTs) and liquid restacking tokens (LRTs) and borrow overcollateralized stablecoin.
Frank said, “Unpausing the protocol is a critical part of the path to recovery and it will reestablish normal functionality, including complete Vault management and deposits into the
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