1.3K @ettty_19 It looks like a wave of liquidations hit the Altura market on Morpho today.
The good news is realized bad debt is 0.
The bad news is that the borrowing rate is 130% which means liquidations will continue.
For now, loopers and liquidity providers are trapped here as liquidity is 0.
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67.6K @alturax Treasury Unwind Update
The Inessa unwind is underway, and transfers to Altura's bank account are now being processed through JPMorgan Chase.
We have added a new Proof of Reserves tab to the Altura app, where every transfer can be followed: https://t.co/wJE7abqaeR
As funds arrive, Inessa exposure decreases and Altura bank account exposure increases. The Altura POR dashboard reflects these changes immediately. Each transfer is also independently verified by Accountable, and their dashboard may take slightly longer to update, as reconciliation is done manually on their side.
We are scaling transfer sizes up gradually so each step clears cleanly through the banking and verification process. Today's transfers reflect that approach, and amounts are expected to increase over the coming days.
As previously stated, redemptions will open once all treasury assets have been recovered and verified, and will then be processed together, so everyone is treated equally.
For those borrowing against AVLT on Morph o, we und
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5.7K @tokenpostkr Altura, AVLT redemption temporarily suspended… financial asset liquidation underway
https://t.co/iowlxizYZy https://t.co/XipTt3LqR5
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