Update: Deprecating uneRSDL (Legacy) and Launching the New uneRSDL Contract

Launching the New uneRSDL Contract

☝🏽Your eRSDL token is unaffected by this update.☝🏽

In continuation with executing on the results of the collateral factor community vote, and in order to keep providing a safe environment and stable ecosystem, we have officially updated the uneRSDL token to reflect the new collateral factor on the ReserveLending platform.

  • The first step of the evolution was deprecation of the existing uneRSDL contract. The screenname eRSDL(legacy) refers to the deprecated uneRSDL contract. Per the community’s action, we disabled the ability to supply and borrow eRSDL in the deprecated uneRSDL contract and set the supply APY to 0.00%.
  • Now is Step Two ✌🏽: We are rolling out a new uneRSDL contract — with a lowered collateral factor of 40%, so that holders can borrow against up to 40% of the fair market value of the eRSDL.

Current eRSDL suppliers will fall under the existing uneRSDL contract and their holdings indicated by the eRSDL (legacy) label. There has been no change to the eRSDL token, and liquidity pools will not be affected. All supplying and borrowing of legacy through the uneRSDL (legacy) contract is currently paused — however, users can withdraw their supply or repay a borrow.

What’s next?

We care and want everyone to get the most utility out of their assets! This change enables users to once again use eRSDL as collateral — so go ahead and withdraw your current eRSDL (legacy) supply and supply them to the new uneRSDL contract.

Here’s a step-by-step guide on how you can learn to do all of that:

How To Withdraw

How To Supply

For discussion or questions about this proposal or any other unFederalReserve related matter please visit us: In Our Forum



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