The denti financing protocol (Defi) said that the Nostra, which is a lending protocol on Starknet, may stop borrowing for two signs asking after determining a “critical problem” with price extracts.
On March 24, errors in feeding NSTRA prices led to the exaggeration of the reported prices for Xstrk and SSTRK – two liquid derivatives of the distinctive symbol of the original Starknet – to three times the actual value of the symbols, Nostra, Nostra He said In a post on the X.
According to Nostra, “(S) UCH, feeding of enlarged prices can cause unnecessary qualifications for safe situations otherwise, which leads to the liquidation of users who have healthy sites.”
In response, the Defi Protocol has disrupted any additional borrowing against XSTRK and SSTRK guarantees.
Nostra also recommended that users who have Xstrk and SSTRK deposits withdraw immediately.
“Since we do not have a secondary (reserve) Oracle to support these assets, as there is nothing available, we are unable to prevent similar events completely from occurring in the future,” Nostra added.
She said: “Our priority has always been and is still maintaining the money of users in safe and without factors with reserve, the risks outweigh the benefits.”
Nostra side icon options. Source: Nostra
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Starknet Defi protocol
Starknet is the Specific -2 layer scaling chain of ETHEREUM guaranteed using zero knowledge evidence (ZK). Mainnet was launched in late 2021, According to To Messari.
It has a closed total value (TVL) about $ 575 million, according to L. Data From L2BEAT.
Nostra lending protocol is among the largest Defi projects that operate on the chain. It number about $ 55 million, according to its website.
On Nostra, users publish guarantees in one code for borrowing in another icon. The most popular side symbols of the Defi protocol are ether, STRK, Stablecoins Usdc (USDC) and Tether (USDT).
Starknet Strk designed for a branch for part of the network fee revenues, According to To its documents.
XSTRK and SSTRK are the distinctive liquid symbols issued by Endur Independent and Nimbura, respectively.
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