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Bybit will be discontinuing the support of FET as a collateralizable or loanable asset from June 14, 2024.

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

• FET will no longer be accepted as collateral on Borrowing (UTA), Crypto Loans, and Institutional Loans, and cannot be used for repayment. 

• Any outstanding FET liabilities must be repaid before July 3, 2024, 10AM UTC. Failure to do so will trigger automatic repayment of FET liabilities and may lead to potential asset losses.  

• We strongly encourage users to adjust their margin before July 3, 2024, 10AM UTC, if applicable, and closely monitor the maintenance margin rate (MMR) and loan-to-value (LTV) ratio to avoid any potential liquidation.  

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

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

We strongly recommend users to 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.

Discontinuation of FET as Collateral and Lending Asset

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