Wepiggy-Arbitrum Will Be Suspended Until the Upgrade Is Complete

Arbitrum mainnet will be upgraded from Arbitrum One to Nitro tech stack on August 31, 2022.

To reduce the potential security risks caused by the upgrade as much as possible and ensure the security of users’ assets, WePiggy-Arbitrum will suspend deposit/withdraw/borrow/repay functions on August 31st during the Arbitrum mainnet upgrade.

After the Arbitrum mainnet upgrade is completed and works smoothly on September 1st, WePiggy will reopen all functions of the lending protocol and notify the community as soon as possible.

Important Reminder

The core development team recommends: Before the Arbitrum mainnet upgrade, adjust your borrowing ratio in advance to avoid losses due to inoperability during the mainnet upgrade.



Voting Result

Final Result: For

Execution Status

WePiggy will perform the 1st and 2nd steps of the delisting operating procedure for WePiggy-Heco at 2022/8/22 15:00 according to WIP42.
The deposit/borrow function of the Heco market will be disable and the reserve factor to will be adjusted to 100%.

All steps of the delisting procedure will complete in 2 weeks(Before 2022/9/5), please repay your borrowings and disable the asset as collateral on Heco chain as soon as possible.



WIP42 Abstract

In this proposal, the core development team proposes to delist all assets of Heco chain and disable WPC Cross-Chain service on Heco Chain, and elaborates on the criteria and motivations.

How to participate in the discussion?

Open this link: https://gov.wepiggy.com/t/topic/1286, register and log in the forum to participate in the discussion.

Everyone can propose their suggestions under the proposal.

The core development team will respond to some of the effective suggestions in the governance forum, and possibly make appropriate adjustments to the proposal to seek maximum consensus during the formal voting.

How to participate in the formal voting?

Formal voting is expected to begin at 15:00 UTC+8, August 18th (Thursday).

Voting period: 2 day

Then, please go to WePiggy’s governance voting system: https://vote.wepiggy.com/ to participate.



OP Token Incentive to Early Supporters

According to the WIP41 proposal, the incentive details are as follows:

Total: 60,000 $OP

Distribution method: evenly divided

Winners: Early supporters of WePiggy — Optimism, 198 addresses listed on WePiggy’s Billionaires of Optimism

Distributed to each address: 303.03 OP

Click to view the list of winners: https://app.wepiggy.io/billionaires (Switch to Optimism network)

Execution Status

WePiggy will complete the incentive distribution on 2022/7/25 (Monday)

If you have any questions, please contact the WePiggy community admins.

What’s Next?

The WePiggy LockDrop event will go live this week, participate to share 240,000 $OP and 75,000,000 WPC rewards!





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