DeFi lending platform Iron Bank has urged Alpha Homora to “take ownership” of its bad debt amid a tussle between the two liquidity platforms.
Iron Bank paused Alpha Homora’s lending account on Mar. 1. Iron Bank is a DeFi protocol that provides liquidity to other DeFi lending platforms, including Alpha Homora. The pause came in response to Alpha Homora’s $30 million bad debt that arose after a malicious exploit in February 2021.
Iron Bank said that it had repeatedly asked Alpha Homora to provide a solution to rebalance its bad debt, but to no avail. “They continue to seek private calls rather than transparently provide a written solution,” Iron Bank said on Friday. The DeFi lending platform said written solutions provide full transparency for all parties involved.
(By Osato Avan-Nomayo)
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