Compensation & Enhanced Risk Control Following Market Volatility
$USDE $BNSOL $WBETH : Binance Announces Compensation & New Risk Controls
Following the extreme volatility and depegging events on Friday night, Binance has taken swift action, confirming compensation for affected users and immediately implementing major risk control upgrades.
The platform is compensating users who incurred liquidations due to the severe depegs of USDE, BNSOL, and WBETH during the critical volatility window on October 10. Users who believe their losses are directly attributable to the platform’s performance issues should contact support for a case-by-case review and compensation. Binance has stated clearly: "There are no excuses."
Crucially, Binance is overhauling its risk systems to prevent a recurrence
Price Index Upgrade: Effective immediately, Binance will strengthen price stability for liquid staking tokens like BNSOL and WBETH by shifting their price index reliance from volatile spot markets to their more stable, official staking conversion/redemption ratios.
Enhanced Safeguards: Further measures will include introducing a minimum price threshold for stablecoins like USDE and increasing the frequency of all platform risk parameter reviews.
This comprehensive response underscores Binance’s commitment to user protection and system stability during periods of extreme market stress. Users are advised to check their accounts and contact customer service with any questions.
