Kyokoans, you amazing guys and gals have been on your game lately! Over the past 2 weeks, you’ve successfully identified over 10 bugs and provided scores more of UXUI improvement suggestions across our P2P NFT lending and CCAL platforms.
It’s because of your testing that our development team was able to identify a critical bug in our P2P NFT lending platform that needs to be addressed. The issue is detailed, below:
When users borrow using NFTs as collateral, the system records the loan principal value prior to scaling; however, the system uses the scaled value when minting debt tokens. This could lead to a situation in which, when users borrow multiple times within the same category of NFTs, the displayed interest on each loan could return negative values under certain circumstances.
As a result, we will be temporarily pausing our P2P NFT lending contract for a comprehensive inspection. Once the dev team is confident that this bug has been fully addressed, we’ll push out our contract upgrade and re-open the testnet. We anticipate this process to take approximately 1 week, starting July 11. We’ll let you know once the upgraded platform is back online.
We appreciate all of your amazing feedback, Kyokoans. Let’s continue to build the future of GameFi, together!
Kyoko addresses the most challenging issues in Web3. Kyoko’s cross-chain asset lending platform solves the persistent issues limiting the GameFi market, including the rising cost of entry and siloed in-game assets across different blockchains. Kyoko’s P2P NFT lending platform expands inclusivity and access to liquidity for NFT projects and holders through its decentralized fixed-rate NFT lending protocol. The $KYOKO token launched in April 2022.
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