Waves Community Passes “Reset” Proposal for Vires.Finance

Key Takeaways

• The community behind Vires.Finance has voted in favor of a “DeFi Revival Plan” that will “reset” the lending protocol.
• The Waves-based lending protocol has suffered from a months-long liquidity crisis since the depegging of the Neutrino stablecoin (USDN) in April.
• The new proposal will allow certain account holders to be repaid, continue their positions, or exchange them for USDN.