The Algol Release
Today, June 23rd at ~ 7:00 UTC, the Algol release will begin. Here's what’s included in this release:
- SIP-251: Differentiate Liquidation Penalties: Adds a new system setting for SNX staker liquidations
Differentiate Liquidation Penalties
SIP 251 sets liquidation penalties that are applied to both staking and loans. The liquidation penalties set from this SIP are as follows:
- Liquidation of collateral loans: 10% Penalty
- Forced Liquidation of SNX Stakers: 30% Penalty
If you've got any comments or questions about the release, please join the conversation on Discord. This release is called Algol, which like all releases, is named after a star (in order of visual magnitude).