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Yei Finance: All user funds are fully available, and the team will fully repay the main pool debt
BlockBeats News, November 6th. The Sei ecosystem lending protocol Yei Finance clarified that all user funds on Yei are fully available and 100% withdrawable. There is approximately $8.6 million USDC collateralized as sfastUSD in the Yeiend main pool, and the Yei team will fully repay this debt to ensure all USDC deposits are withdrawable. Currently, during the debt repayment process, the withdrawal function has been temporarily suspended. Updates will be released soon to explain when the protocol will resume normal operation.
Last night, Yei Finance stated that due to an abnormal situation in the current fastUSD market, the team has temporarily paused the protocol to take preventive measures. The team is actively investigating and is expected to provide an update within the next 24 hours.
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