Foresight News|4月 05, 2026 01:41
**[Project 0 Resumes Operations After Drift Deleveraging, Average Lender Asset Write-Down of 2.61%]**
Foresight News reports that the decentralized lending protocol Project 0 has announced the resumption of operations. Previously, Project 0 had suspended operations and initiated a deleveraging process due to a hacking incident involving the Drift protocol. Project 0 stated that the remaining socialized loss amounts to approximately $1.9147 million, which will be distributed across the credit pool, resulting in an average asset write-down of 2.61% for lenders.
Based on asset risk levels, the write-down rates are as follows: USDC, SOL, and USDT at 1%; mainstream assets like BTC and ETH at 2.61%; and WIF, BONK, and governance tokens at 6.62%. Project 0 noted that as Drift assets are gradually unlocked and returned to affected users, the actual loss rate will be lower than the aforementioned baseline figures.
Project 0 co-founder MacBrennan previously explained that the protocol utilizes a unified credit pool to enable cross-protocol margin functionality, which is a core mechanism of P0. However, some community members expressed dissatisfaction, stating that they were impacted despite not directly participating in Drift lending.
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