Euler’s Updated User Redemption Plan: Understanding the Changes

On April 12th, Euler updated its previously announced user redemption plan by deciding to determine assets and liabilities based on the block height when the agreement was suspended. The new version takes into account the exchange rate fluctuations, insurance expenses, and reserve surcharge effects of each ordinary depositor, and therefore will make differential repayments. Due to the suspension of the agreement, those holding open positions have given up trading profits, The new version has designed a more specific repayment plan for this situation.

Euler announces a new version of the user redemption plan, which will provide reasonable differentiation and treatment for users holding open positions

Euler, a popular cryptocurrency exchange, has recently made changes to its user redemption plan. In this article, we will discuss the details of the updated plan and how it affects users.

Outline:

– Introduction
– Euler’s Previous User Redemption Plan
– Changes in Euler’s Updated User Redemption Plan
– Asset and Liability Determination Based on Block Height
– Differential Repayments for Ordinary Depositors
– Repayment Plan for Open Positions
– Conclusion
– FAQs

Euler’s Previous User Redemption Plan:

Euler had previously announced a user redemption plan that aimed to return users’ funds following the suspension of its services due to unforeseeable circumstances. The redemption plan was intended to be a transparent and fair method for users to recover their funds. Euler assured its users that the redemption plan would be carried out promptly and efficiently.

Changes in Euler’s Updated User Redemption Plan:

On April 12th, Euler updated its user redemption plan to ensure that the process remains fair and transparent. The new version takes into account the exchange rate fluctuations, insurance expenses, and reserve surcharge effects of each ordinary depositor, and therefore will make differential repayments.

Asset and Liability Determination Based on Block Height:

One of the significant changes in Euler’s updated user redemption plan is the determination of assets and liabilities based on block height when the agreement was suspended. This means that the funds of users at the time of suspension would be used as a basis for asset and liability calculation. This ensures that all users are treated equally, regardless of when they deposited their funds.

Differential Repayments for Ordinary Depositors:

The updated redemption plan is designed to provide differential repayments for ordinary depositors. This means that some users may receive higher or lower repayments depending on their deposit amount or the timing of their deposit. The differential repayment method is seen as a way to ensure fairness in the redemption process.

Repayment Plan for Open Positions:

Due to the suspension of the agreement, those holding open positions have given up trading profits. The new version has designed a more specific repayment plan for this situation. Euler aims to compensate for the lost trading profits to open positions holders, while also considering the market conditions at the time of the suspension.

Conclusion:

Euler’s updated user redemption plan aims to provide a fair and transparent method for users to recover their funds. The changes in the updated plan include asset and liability determination based on block height, differential repayments, and a repayment plan for open position holders.

FAQs:

1. How does Euler ensure fairness in determining assets and liabilities for users?
Euler determines assets and liabilities based on block height when the agreement was suspended. This ensures that all users are treated equally, regardless of when they deposited their funds.
2. Who is eligible for differential repayments in Euler’s updated redemption plan?
Ordinary depositors are eligible for differential repayments. Some users may receive higher or lower repayments depending on their deposit amount or the timing of their deposit.
3. How will Euler compensate for lost trading profits for open positions holders?
Euler aims to compensate for the lost trading profits to open positions holders, while also considering the market conditions at the time of suspension.