Status Update — Stability Pool Issue
Here you can find the latest information about the Stability Pool (“Earn”) issue.
The latest update is on top.
Feb 28st — 16:24pm
Auditing process is currently underway for Liquity V2 Stability Pool code changes.
Recommendations for Quill users remain the same as before:
- Stability Pool depositors should withdraw from the pools
- Borrowers should repay their loans
Feb 21st — 14:41pm
Update regarding Liquity redeployment:
- A solution for the Liquity V2 stability pool issue has been developed and audits begin at the end of next week.
- Liquity V2 redeployment scheduled for Mid-March 2025
- The current deployment of Liquity V2 will become a legacy protocol
As for the recommendations for Quill users, they remain the same:
- Stability Pool depositors should close their positions immediately.
- Borrowers should close their loans while liquidity conditions for $USDQ remain favorable.
Feb 19th — 5:55pm
Update posted by Liquity regarding dates and next steps for users:
- The Stability Pool fix is under development by the Liquity team.
- Audits are scheduled to begin by the end of the last week of February.
- Stability Pool depositors should withdraw as soon as possible.
- Borrowers should close their loans while $BOLD liquidity remains favorable.
- If $BOLD is trading above $1, $BOLD holders should consider selling via Curve Finance, Uniswap or aggregators, providing single-sided liquidity on Uniswap, and setting limit orders on CoWSwap.
For Quill and $USDQ users specifically, we recommend users follow similar steps:
- If you are a Stability Pool depositor, withdraw your funds as soon as possible.
- If you are a Borrower, close your loans whilst $USDQ liquidity remains favorable.
- If you are a $USDQ holder, and $USDQ is above $1, consider selling your $USDQ via Ambient on the USDQ / USDC pool.
If you have any questions, feel free to ask them on Discord Server.
Feb 13th — 5:43pm
An issue with the Stability Pools/Earn on Liquity V2 and consequently on Quill has been confirmed.
Users are strongly advised to close their Stability Pool/Earn positions in Quill. To the team’s knowledge, no users have been impacted and the issue is isolated to the Stability Pool/Earn.
All other parts of the system are unaffected and USDQ remains fully backed and redeemable.
We will update via our official channels, discord and twitter, as soon as possible.
Feb 12th — 2:52pm
The Liquity team was informed of a potential issue affecting Liquity V2 Stability Pools (“Earn”), and is currently investigating a potential impact. Out of an abundance of caution, Quill users should close their Stability Pool (“Earn”) positions.
Based on the current understanding, the following parts of the system aren’t affected:
- USDQ remains fully backed and redeemable
- Borrowers can withdraw their collateral assets
Disclaimer:
- It is strongly encouraged that all users interact with frontends which they have previously used.
- Quill team members will not DM you and there is no help desk or private support channel.
- Scammers may use this opportunity to try to steal your funds, please remain vigilant and only use official sources for information.
- Liquity V2 is fully permissionless, and the Liquity team does not maintain any administrative roles over the Liquity protocol. It is each user’s own responsibility to take appropriate actions when interacting with the Liquity protocol.
