Discontinuation of SLP as collateral and borrowable asset

Bybit will be discontinuing SLP as a collateralizable or loanable asset from Apr 10, 2025.

Timeline:

Mar 27, 2025, 8AM UTC

• All borrowing and lending services for SLP will be suspended, including Borrowing (UTA), Crypto Loans and Bybit Savings.

Apr 10, 2025, 8AM UTC

• SLP will no longer be accepted as collateral on Borrowing (UTA), Crypto Loans and Institutional Loans or as a repayment means.

• Any outstanding SLP liabilities must be repaid before Apr 10, 2025, 8AM UTC to prevent automatic repayment and potential asset losses.

• We strongly encourage users to adjust their margin before Apr 10, 2025, 8AM UTC (if applicable) and closely monitor the maintenance margin rate (MMR) and loan-to-value (LTV) ratio to avoid any potential liquidation.

Apr 11, 2025, 8AM UTC

• SLP will be removed from Bybit Savings. Users' principal and accrued yield from staking SLP in Bybit Savings will be automatically credited to Funding Accounts.

• Users are recommended to initiate early redemptions of SLP to avoid delays.

We strongly recommend users take note of these upcoming changes and adjust their orders and financial strategies accordingly.

We appreciate your understanding and cooperation as we implement these updates.