Notional Finance To Fully Deprecate V2 By End of July, Urges Users To Transition To V3
In Brief
Notional Finance will complete the phase-out of Notional V2 by the end of July, transitioning current users to V3.
Platform specializing in fixed-rate cryptocurrency lending protocols, Notional Finance announced its decision to fully phase out Notional V2 by the end of July. All current users of V2 will undergo a seamless transition to V3, the upgraded version of the protocol.
Users holding borrow positions have the option to repay their debt and withdraw collateral from V2 within the next two weeks. If the loan remains unpaid by July 1st, the debt position will automatically transition to Notional V3.
Liquidity providers can withdraw funds using the Notional V2 user interface until July 8th. After this date, any remaining liquidity providers will be migrated to Notional V3.
Meanwhile, users who currently hold matured fixed-rate lending positions will transition to V3 alongside liquidity providers. For users with fixed-rate lending positions that have not yet matured, they must maintain their positions until maturity before being eligible to withdraw.
Notional Finance introduced the beta version of V3 in November last year, marking an advancement in decentralized finance (DeFi) lending. V3 represents the prime money market for variable-rate lending and borrowing, enhancing yields and user experience for both fixed-rate users and liquidity providers. This update integrates seamlessly with Notional’s existing fixed-rate markets while introducing new variable-rate functionalities.
Notional Finance Launches ARB STIP Bridge Incentive Program On Arbitrum, Allocating 250,000 ARB Tokens
Notional Finance operates as a decentralized finance (DeFi) platform specializing in fixed-rate lending and leveraged yield strategies. Users have the option to earn interest by lending assets at fixed rates, borrowing cryptocurrencies by depositing collateral, and pursuing leveraged yield opportunities by borrowing cryptocurrencies for investment in DeFi yield strategies. Additionally, the platform enables individuals to offer liquidity to earn incentives, interest, and trading fees.
Recently, Notional Finance unveiled the ARB STIP Bridge incentive program on Arbitrum, designed to allocate 250,000 ARB tokens over a period of 12 weeks to users leveraging Arbitrum. The initiative aims to incentivize organic engagement across Notional’s entire range of products, including liquidity provision, lending, borrowing, and leveraged yield strategies.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
