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