Usual: Appropriate limits have been set for all Morpho markets. Users are advised to migrate their positions to the new market as soon as possible.

BlockBeats News, January 12: The RWA stablecoin project Usual announced that it has set appropriate caps for all Morpho markets and strongly advised users to migrate their positions to the new markets as soon as possible. Rewards for the original markets have been abolished, and liquidation and default commitments are now limited within the capped collateral vault.

Usual stated that it has successfully protected lenders in the vault from default impacts but does not recommend continuing to lend directly to that market. In addition, Usual clarified that any custodian, including MEV Capital, was unaware of the floor price execution on-chain prior to the update.

In a previous announcement, Usual addressed the USD0++ off-peg issue yesterday and stated that it is actively ensuring that there are no default issues in the current lending market. All liquidation proceeds will flow directly into the DAO treasury, ultimately benefiting USUAL holders.