Odaily Planet Daily News According to the official announcement, Bybit announced that it will stop using SLP as a collateralized or loanable asset from April 10, 2025:
1. March 27, 2025, 8 am (UTC): All SLP lending services will be suspended, including lending (UTA), crypto loans and Bybit savings;
2. April 10, 2025, 8 am (UTC): SLP will no longer be accepted as collateral or repayment for borrowing (UTA), crypto loans and institutional loans;
3. April 11, 2025, 8 am (UTC): SLP will be removed from Bybit savings. The principal and accrued income of users staking SLP in Bybit savings will be automatically credited to the funding account.
Bybit reminds that all outstanding SLP debts must be repaid before April 10, 2025 (8 am UTC time) to prevent automatic repayment and potential asset loss. Users are advised to adjust their margin (if applicable) before 8 am UTC on April 10, 2025 (UTC time) and closely monitor the maintenance margin ratio (MMR) and loan value (LTV) ratio to avoid any potential liquidation.