$USDC
🔄 Relaunch of the Situs Protocol on June 8, 2025
The Situs Protocol team officially announced the relaunch of the protocol on June 8, 2025, at 3:00 PM Coordinated Universal Time (UTC), with full system functionalities restored after a period of downtime.
📊 Steps for restoring liquidity and compensating users:
A chain vote was conducted to restore and rebalance the assets.
$7 million from the treasury was allocated to buy back the lost tokens.
The project received a $30 million loan from the Sui Foundation.
To compensate affected users, 15% of the total supply of Situs tokens will be distributed to those impacted.
🚀 These steps pave the way for a strong return of the protocol and reflect the team's commitment to transparency and restoring trust.