Project 0 resumes operation, with an average write down of 2.61% on lender assets

The decentralized lending protocol Project 0 has announced the resumption of operations, following the suspension of operations and the initiation of the deleveraging process due to a hacker attack on the Drift protocol. Project 0 states that the remaining socialized loss amount is approximately $1.9147 million, which will be distributed to the credit pool, resulting in an average write down of 2.61% on the borrower's assets. USDC, SOL, and USDT will be reduced by 1%, BTC and ETH will be reduced by 2.61%, and WIF, BONK, and governance tokens will be reduced by 6.62%. As Drift assets are subsequently unlocked and returned to users, the actual loss amount will be lower than the benchmark figure. Some community members expressed dissatisfaction with the unified credit pool mechanism.