Initia Foundation approves grant to cover iUSD collateral shortfall, restoring 1:1 backing

BlockBeats news, October 28 - According to an official post by the Initia Foundation, the foundation has approved a grant to fully restore the 1:1 backing of the affected Noble USDC, WETH, and AUSD0 held as iUSD collateral. The foundation stated that the funds will cover verified shortfalls, with caps of 1.08 million USDC, 105 ETH, and 1.4 million AUSD0 respectively; disbursement will be executed after reconciliation is completed and final transfer approval is obtained.

The statement pointed out that the affected assets are Noble USDC, WETH, and AUSD0 already held as iUSD collateral. The goal of the foundation's arrangement is to restore the backing ratio of the above assets to a full 1:1, covering the actual shortfall confirmed by reconciliation, not exceeding the aforementioned caps. Specific transfers must wait until reconciliation is completed and final approval is obtained before proceeding.