Here's a rewritten version of the news with a Binance-focused angle:
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Nostra Suspends Borrowing for Liquid Staking Tokens Over Price Feed Issue
According to Cointelegraph, Nostra, a prominent lending protocol on Starknet, has temporarily halted borrowing for two liquid staking tokens due to inaccuracies in its price feeds. The issue, identified on March 24, resulted in xSTRK and sSTRK being valued at nearly three times their actual market price, raising concerns over unjustified liquidations.
In response, Nostra has disabled borrowing against these tokens and urged users to withdraw their collateral deposits immediately. The protocol admitted to lacking a backup oracle, increasing the risk of similar incidents in the future. This development highlights ongoing challenges in DeFi regarding accurate price feeds and risk mitigation.
Starknet, a leading Layer-2 solution for Ethereum, currently holds around $575 million in total value locked (TVL), with Nostra contributing approximately $55 million. The platform supports various collateral assets, including ETH, STRK, USDC, and USDT. STRK, Starknet’s native token, is primarily used for staking, with xSTRK and sSTRK issued by third-party DeFi protocols Endur and Nimbura.
As the DeFi sector continues to expand, robust security measures and reliable price oracles remain critical to protecting user funds. Binance users and investors tracking STRK and other DeFi assets should remain vigilant for further developments.
STRK Price Update: $0.1778 (+1.95%)
