Odaily Planet Daily News: According to official announcements, Bybit announced that it will stop using SLP as a collateralized or loanable asset from April 10, 2025:
1. March 27, 2025, 8:00 AM (UTC): All lending services of SLP will be suspended, including lending (UTA), encrypted loans, and Bybit savings;
2. April 10, 2025, 8:00 AM (UTC): SLP will no longer be accepted as collateral or repayment method for loans (UTA), encrypted loans, and institutional loans;
3. April 11, 2025, 8:00 AM (UTC): SLP will be removed from Bybit savings. The principal and accrued income of SLP pledged by users in Bybit savings will be automatically credited to the fund account.
Bybit reminds that all outstanding SLP debts must be repaid before April 10, 2025 (8:00 a.m. UTC) to prevent automatic repayment and potential asset losses. At the same time, it recommends users to adjust the margin (if applicable) before 8:00 a.m. UTC on April 10, 2025, and closely monitor the maintenance margin rate (MMR) and loan value (LTV) ratio to avoid any potential liquidation.
