Announcement on USDC.e Reverse Conversion to USDC
28 Nov 2024
Dear Bitlayer Community Users,
During the process of converting USDC.e to USDC, we have noticed that some users who borrowed USDC.e through Lending have encountered issues, as their USDC.e was converted into USDC, leaving them unable to repay their Lending obligations. To address this, the Bitlayer team will soon enable a one-time reverse conversion on the Bitlayer mainnet.
Reverse Conversion Rules
If you meet the following conditions, you may apply to convert your USDC back to USDC.e:
-
Provide Proof of Lending
Users must provide Lending-related screenshots as proofs, including:
- Your wallet address
- The borrowed amount of USDC.e
-
Conversion Restrictions
- Each address is allowed only one reverse conversion. Please ensure you handle the converted USDC.e responsibly.
- If users fail to repay their Lending obligations with the converted USDC.e and instead use it for other purposes (e.g., swapping for other tokens), Bitlayer will no longer assist with further reverse conversions.
How to Apply
Eligible users should contact Bitlayer community administrators or relevant staff to submit proof and apply for reverse conversion.
We sincerely appreciate your support and understanding. Your trust motivates us to continuously improve and provide better services. IF you have any questions, feel free to reach out to our community administrators or engage with other members in the Bitlayer community.
Bitlayer Team
About Bitlayer
Bitlayer is the first Bitcoin Layer 2 based on Bitcoin finality.
Bitlayer provides developers and users with a native Bitcoin Layer 2 environment through its innovative technologies including OpVM, Finality Bridge, and RtEVM. This platform ensures Bitcoin-equivalent security, a trustless cross-chain bridge, and a real-time EVM programming environment.
For inquiries or comments contact [email protected].
Follow us to stay updated on everything Bitlayer:
