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Notional Announces Final Phase of Transition from V2 to V3

17/06/2024 21:27

According to Odaily, Notional, a fixed-rate lending protocol, has announced that the final phase of discontinuing Notional V2 is underway. It is expected that by the end of July, Notional V2 will be completely phased out, and all current V2 users will transition to V3. The schedule for the upcoming weeks is as follows: For borrowers, there are still some remaining on V2. If users have outstanding loan positions, they will be able to repay their debts and remove collateral from Notional V2 within the next two weeks. If they cannot repay their debts before July 1, their loan positions will be switched to Notional V3. For liquidity providers (LPs), they can normally withdraw through the Notional V2 UI until July 8. After July 8, the remaining LPs will be switched to Notional V3. For fixed-rate lenders, users holding mature fixed-rate loan positions will be switched to V3 along with LPs. This will provide them with variable-rate loan positions on V3, and they can access these positions using the same address they used on Notional V2. Users holding fixed-rate loan positions that have not yet matured need to hold their positions until maturity to withdraw. At maturity, users will have two weeks to withdraw from Notional V2, until they are automatically switched to Notional V3, and Notional V2 is completely phased out.

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