Latest Bybit News

Bybit will be discontinuing the support of VENOM as a collateralizable or loanable asset from Jan 22, 2025.

• All borrowing and lending services for VENOM will be suspended, including Borrowing (UTA), Crypto Loans, and Bybit Savings.

• VENOM will no longer be accepted as collateral on Borrowing (UTA), Crypto Loans, and Institutional Loans, and cannot be used for repayment. 

• Any outstanding VENOM liabilities must be repaid before Jan 22, 2025, 10AM UTC. Failure to do so will trigger automatic repayment of VENOM liabilities and may lead to potential asset losses.  

• We strongly encourage users to adjust their margin before Jan 22, 2025, 10AM UTC (if applicable) and closely monitor the maintenance margin rate (MMR) and loan-to-value (LTV) ratio to avoid any potential liquidation.  

• VENOM will be removed from Bybit Savings. Users' principal and accrued yield from staking VENOM in Bybit Savings will be automatically credited to Funding Accounts. 

• Users are recommended to initiate early redemptions of VENOM to avoid delays.

We strongly recommend users to take note of these upcoming changes and adjust their orders and financial strategies accordingly.

We appreciate your understanding and cooperation as we implement these updates.

Discontinuation of VENOM as Collateral and Lending Asset

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Announcement

Discontinuation of VENOM as Collateral and Lending Asset